Best Buy (BBY) broke support and the 50-day moving average with a sharp decline over the last six days. Notice how the Aroon Oscillator turned negative just before this support break. In fact, this Aroon signal would have shown up on the Aroon scan last Thursday.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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