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Best Buy Breakout?

By Gary Morrow

 About this article:
 Best Buy is trading at new highs for the year. The stock is up less than 1% on very light trade but the advance is strong enough to push the stock above the $42 level for the first time since mid-April. BBY Daily (NYSE) -- Best Buy Source: TradeStation The rally today extends yesterday's 3.8% jump. By Monday's close, BBY had taken out trend-line resistance that included the September and October highs as well as the April peak. It's very early to call, but this week's breakout above the upper trend line of a seven month consolidation could lead to a big move to the upside. BBY has been trading in a narrowing range since the July lows at its 200-day moving average. After a strong rally into early August, the stock has done a great...

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