Is this a great time for Best Buy (BBY Stock) shares? [Video]


The broad conditions for equity buyers remain in place. Easy central bank monetary policy and broad fiscal stimulus mean conditions are suitable for further equity gains. However, investors need to be aware that markets have been trading at elevated levels and are struggling to make new highs despite strong Q2 earnings.

Will Best Buy move higher in keeping with its very strong seasonal pattern this year? Over the last 10 years, Best Buy has gained in value seven times between May 26 and July 03. The largest gain was in 2014 with a 19.28% profit. Online activity has been elevated during lockdowns with high levels of consumer demand restricted to online shopping channels. Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Will this demand be enough to keep Best Buy’s strong seasonal pattern going?

Major Trade Risks:

  • The main risk to this trade is from any risk-off tones which will weigh on equity prices.

  • A fast rise in US inflation could result in bond tapering which would potentially weaken Best Buy’s share price if US interest rates rise.


Learn more about HYCM

Articles You May Like

AUDUSD after run higher, backtracks to the high from last week and finds support buyers
🔴Live Forex Trading Scalping 1 Minute Entries (GOLD, GBPJPY, NAS100) – Jan 26TH 2023
USDCAD dips back below the 100/200 hour MAs
Dollar Eyes PCE Inflation Data, Ready for a Bounce?
Explosions reported in several places in Iran