Best Buy’s Lower HighsBest Buy fell sharply on “Liberation Day.” Now, after a modest rebound, some traders may see further downside risk.
The first pattern on today’s chart is July 10’s peak of $74.75. That was below the June high, which in turn was under May’s high. Such a succession of lower highs could indicate a bearish trend.
The potential topping behavior is also happening below the close on April 2, immediately before President Trump announced aggressive tariffs.
Third, prices are stalling near the 50- and 100-day simple moving averages. That may reflect a bearish long-term trend.
Finally, the retailer has returned below its 8- and 21-day exponential moving averages. That may suggest short-term trends have gotten more bearish as well.
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