Wednesday, July 6, 2011

BestBuy (BBY) **REQUEST** 7/6

Best Buy's daily chart to our left, it looks like we are starting to form a descending wedge (shown in yellow) since about the beginning of the year and after its giant sell off (not shown) previous to the end of the year. I think this could also be a low risk sell at this point to try to ride it to the other line as it seems like we are showing a small bit of divergence in the MACD. I would also think this could be a good straddle play sometime in the next months if we continue to squeeze into this wedge.

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