BBY (Best Buy) Market Watch 9/19/18

While at the moment the direction is unclear, the entry point is soon to be here once the volume indicates the direction of the trade.

A tightening pattern, which will result in a larger move coming to this stock. With the initial spread of $10 in such a short period of time, this stock could be a quick way to jump in and out of a shorter term trade.

As it stands right now, if I were already holding the stock, it would be a "hold" but closely watching for a possible "sell" single in the near future. Since I do not hold it, I am currently looking for a possible short entry single, based on an OBV trend break.

The expected path is for the stock is certainly leaning bullish. However, I have concerns about an over-extended retail rally in stocks this year and am not interested in "set it and forget it" type of buys. I think the best thing to watch for here is a break of the OBV trend lines, and shorting the retest of the line as a confirmation of the trend change.

Thanks for reading,

-Icee-

Please leave me an upvote and remember this is not trading advice.