Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features an ascending triangle chart pattern on Best Buy Co Inc. listed on the New York Stock Exchange.
BEST BUY CO INC (BBY [1])
Best Buy Co., Inc. is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. The stock is listed on the New York Stock Exchange. Price chart formed a 6 month-long ascending triangle with the horizontal boundary acting as strong resistance at 78.8 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 81.15 levels will confirm the breakout from the 6 month-long ascending triangle with the possible chart pattern price target of 92.5 levels. Breakout can push the stock to all-time highs.
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