As of June 03, 2026, BBY (Best Buy Co., Inc.) is in a bottoming attempt state on the weekly chart, with a confidence level of 62%. Key support is at $69.0 and key resistance at $77.0. Sharp bounce from a fresh swing low (~$56-58) with a large green recovery candle; price back above EMA50/SMA50 but still below the heavier long-term cluster (SMA100/200, EMA100/200) near the mid/high-$70s.
Base-to-reclaim continuation: price digests above $69 and pushes into the heavy MA/Fib supply zone around $73-$77; if accepted, a grind toward the low $80s follows (counter-trend rally within a larger downtrend/basing process).
Failed reclaim / lower-high: price rejects near $77 (SMA100/200 + EMA200 cluster) and rolls back to retest $69; if $69 breaks, a deeper retest of the swing low zone follows (still consistent with a larger-degree corrective Elliott Wave).
Weekly closes hold above $69.00 AND break/hold above $73.00 (EMA100 area) for 2+ weeks
Weekly close below $56.00
Buy-the-dip framework: $66-69 is the reclaimed EMA50/SMA50 retest; $61-65 is prior demand mid-range; $56-60 is the swing-low/Fib extension area where a higher-low attempt should be defended.
Trim into overhead supply from the prior breakdown and likely Elliott Wave C/2 retracement zones: first near the low-$80s, heavier into the prior swing distribution ($90s), and full exit if price becomes extended back toward the old highs/major Fib retrace.
As of June 03, 2026, BBY (Best Buy Co., Inc.) is in a bottoming attempt state on the weekly chart with 62% confidence. Sharp bounce from a fresh swing low (~$56-58) with a large green recovery candle; price back above EMA50/SMA50 but still below the heavier long-term cluster (SMA100/200, EMA100/200) near the mid/high-$70s.
On the weekly timeframe, BBY has key support at $69.0 and key resistance at $77.0. The most likely scenario (bullish) targets $77.0 and $83.5, with a revert level at $73.0.
BBY (Best Buy Co., Inc.) is currently classified as bottoming attempt on the weekly chart, with 62% confidence. Confirmation requires: Weekly closes hold above $69.00 AND break/hold above $73.00 (EMA100 area) for 2+ weeks This would be invalidated by: Weekly close below $56.00
The most likely scenario (bullish) targets $77.0 and $83.5, with a revert level at $73.0. The alternative scenario (bearish) targets $69.0 and $58.0.
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