This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Bottoming Stocks Starting to Signal a Buy

Best Buy

When you think about stocks you want to own, it's not likely that electronics retailer Best Buy (BBY - Get Report) ranks very highly on that list. In the last 12 months alone, this $5.4 billion stock has lost close to 40% of its market value as consumers kicked tires in its retail stores and then bought their gear at cheaper online competitors (or eroded margins by forcing BBY to price match more aggressive brick and mortar stores).

I'll be the first to say that I wouldn't buy Best Buy. But with this stock coming back from oversold territory, I'd sure trade it.

Best Buy's first signs of life came when the stock broke out above resistance at $13, a place below which shares had been consolidating sideways. Since then, BBY has been moving higher, coming up to breakout through former trendline resistance last week. That more recent push through resistance is the signal that buyers are still in control of this stock at higher levels.

Shares are pulling back a bit today, matching the broad market's correction this morning. That gives traders a chance to jump into Best Buy on a throwback to newfound support at that dashed red line. As long as BBY doesn't fall back through that level, shares look buyable right here.
3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BNNY $45.97 -0.02%
BBY $32.29 0.00%
GRMN $41.91 0.00%
VSAT $62.00 0.00%
VFC $77.09 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs