BBY daily - likely down legs soon

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BBY is a bearish/weak fundamental stock, therefore, we would trade it only in a short position.
BBY daily is in some kind of rising wedge which is a bearish pattern. The price is at the resistance line which could indicate imminent correction.

RSI is in oversold territory and has bearish divergences what is bearish.
MACD histogram tick is moving higher and the MACD line is over the signal line which could be bullish, however, MACD to has negative divergences that indicate relative weakness of the stock movement.

Overall: most of the indicator point to oversold price territory and the possibility for stock to drop. With a close below the blue dotted trend line, BBY would open the possibility for a short position with a stop loss above the last 3 days' high.

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ملاحظة

Short trade from 18.27!

٢٣ يناير ٢٠٢٣

ملاحظة

Short trade was from 82.47. I made mistake in typing. I was stopped out at 84.03.

Expense trade of -1.9%