Best Buy (BBY): Best in Profits?

SUMMARY

Here is the weekly chart of Best Buy (BBY) which is still climbing within an impulse wave 3 and it's not yet complete. Recall that wave 3s move most violently and the near vertical angle of the ascent so far speaks to that quite well. The length of wave 3 could also extend quite a bit beyoned where it is labeled at $107. The MACD is expected to support the move by attaining a higher high and decline for wave 4.

So far, the subwaves of white wave 3 shows that likely blue wave 3 is almost complete. This leaves blue 4 and 5. Again, even the blue wave 3 can extend quite a bit more than expected. IF white wave 3 was 2.618 extended; the price would be $163.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--