Best Buy (BBY) reported 1st Quarter April 2021 earnings of $2.23 per share on revenue of $11.6 billion. The consensus earnings estimate was $1.45 per share on revenue of $10.2 billion. The Earnings Whisper number was $1.55 per share.
Summary
Revenue grew 35.9% on a year-over-year basis.
Best Buy Beats
The stock is seeing a positive response to “earnings and guidance” this morning. Look for the trend to continue if traders and investors manage a close above the 50d. Price action is currently bouncing around in the blue zone.
Stochastic and MACD are set to run higher. RSI will pierce the 50-zone, suggesting further bullish action in the coming days/weeks.
Best Buy – Premarket
The stock is trading up to 122.00 and flagging above 120.00.
We’ll watch for follow-through this morning during the LIVE broadcast. Provided a bullish “market” and retail sector strength we’ll also watch for the following.
- RVOL should be above 2.0
- Price action should remain above VWAP
Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
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