Below is a chart of Best Buy (BBY) downside targets based on Edson Gould’s Speed Resistance Lines (SRL):
Best Buy has had a history of resting the extreme downside target, currently at $14.78. However, we have split the difference and placed an intermediate downside support level of $22.34. Again, this is not a recommendation to buy or sell Best Buy, instead, it is an attempt to observe how closely the stock will adhere to the SRLs indicated in the chart.