Best Buy (BBY) gets a downgrade, with Jefferies lowering its coverage and price target to $85. Rachel Dashiell examines the chart and notes short-term choppiness with a head-and-shoulders formation taking place on a 20-day timeframe. The longer-term view "paints a different picture," adds Rachel. She identifies the momentum regime shift with RSI above 50. Rachel is closely watching BBY shares to close above $87 in Wednesday's trade which could indicate more bullish trends ahead.
Morning Movers
05 Aug 2026
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