Best Buy (BBY) NewsBite - BBY Covered In Lee Allen Report

Posted on Friday, August 15, 2008 10:03 AM

Best Buy (BBY) was covered in a Lee Allen Report yesterday and the stock is now at $46.39, up $0.57 (1.24%) on volume of 1,132,244 shares traded. To see the Lee Allen report go to http://www.iotogo.com/la81408 . Over the last 52 weeks the stock has ranged from a low of $36.10 on 7/15/08 to a high of $53.90 on 12/11/07. Best Buy stock has been showing support around $44.27 and resistance in the $46.93 range. Technical indicators for the stock are bullish and S&P gives BBY a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on BBY the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 37.50 range. [ABR-Seven Summits Strategic Investments NewsBite]