Technical Briefing on Best Buy, GameStop, RadioShack, and hhgregg
LONDON, March 28, 2013 /PRNewswire/ --
Electronic stores such as Best Buy Co. Inc. (NYSE: BBY), GameStop Corp. (NYSE: GME), RadioShack Corporation (NYSE: RSH), and hhgregg Inc. (NYSE: HGG) have struggled in recent years due to increasing competition from online retailers such as Amazon.com. More and more consumers are buying electronic products online now, and the trend is expected to continue. Electronic stores have also struggled in recent years due to weak economic environment, which has resulted in consumers scaling back their spending. Going forward, the key for electronic stores will be to scale back their stores and boost their online offerings. Electronic stores stocks ended on a mixed note on Wednesday as the broad market came under pressure amid rising worries over the Eurozone debt crisis. StockCall has posted free technical research reports on BBY, GME, RSH, and HGG and these can be accessed by signing up at
http://www.stockcall.com/analysis
Best Buy Co. Inc.'s shares fell sharply in trading on Wednesday. The stock fell to an intra-day low of $21.77 before finishing the day 2.42% lower at $22.15. The stock has now fallen nearly 2.80% this week. Its shares have seen a pullback this week after rallying in the previous three weeks. The stock has been gaining momentum since the start of this month and has broken through some key technical levels. However, the stock's MACD chart suggests that market sentiment has now turned bearish. Download the free report on BBY upon registration at
http://www.StockCall.com/BBY032813.pdf
GameStop Corp.'s shares have had an excellent run this week, and the trend continued yesterday. The stock closed 0.34% higher at $26.45 after touching an intra-day high of $26.67. Shares of GME have now gained more than 3% this week. Year-to-date, the stock is now up more than 6.60%, underperforming the S&P 500. Its shares are trading nearly 5.70% below their 52-week high. The stock currently faces stiff resistance at around $26.50. It has support at $25.50. The stock's MACD is currently trading above the signal line and the zero-line, which is a strong bullish signal. GME technical report can be accessed for free by signing up at
http://www.StockCall.com/GME032813.pdf
RadioShack Corporation's shares fluctuated between gains and losses on Wednesday before finishing the day flat at $3.36. The stock has struggled this week, falling more than 5%. Yesterday, RadioShack's shares touched an intra-day low of $3.31. Despite the losses this week, the company's shares have gained nearly 58.50% this week, easily outperforming the broad market. The stock, however, is still trading significantly below its 52-week high. The stock's MACD has just crossed below the signal line, which indicates that market sentiment has turned bearish on the stock. Free report on RSH can be accessed by registering at
http://www.StockCall.com/RSH032813.pdf
Shares of hhgregg Inc. struggled in trading on Wednesday, falling 0.72% finish the day at $11.04. The stock touched an intra-day low of $10.93 and has now fallen more than 1.30% this week. Its shares have had an excellent run so far in 2013, gaining more than 57%. The stock saw a series of highs before seeing a pullback last week. The stock is still trading well above its 50-day and 200-day moving averages. Register with StockCall and download the research on HGG for free at
http://www.StockCall.com/HGG032813.pdf
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