Shares of Best Buy (BBY) are falling sharply today with the overall market decline. However, this decline is taking the stock price on Best Buy into a key chart support level. Based on Best Buy stock chart analysis, if it breaks below this current level of $113 (on a daily closing basis), the stock has a fast 20% downside in it. The support trend line is currently holding, but smart investors will be watching it like a hawk. Any daily close below and the sellers will emerge as well as plenty of short-sellers. The Best Buy stock chart analysis is extremely important in telling investors whether or not this retailer can hold up. Keep an eye on the Best Buy stock chart and be ready to act.
Best Buy stock chart analysis below…
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