Best Buy has had a solid performance since just after Thanksgiving. Note the surge in volume as the stock took a tumble just before that holiday in what seemed a capitulation moment. Since then the stock has been on a tear. The indicators continue to reflect price strength and buyers lining up.
The recent morningstar pattern is a bullish one. With an overbought condition, the dip last week (when it tested the 20 ma – see the green dotted line) was a great buying opportunity. The RSI is super strong, too. I like this stock to move on to higher prices after this recent check back to the 20 ma.
