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RadioShack and Best Buy Well Positioned to Climb


Friday May 6th, 2011
RadioShack and Best Buy Well Positioned to Climb
by Mike Paulenoff www.MPTrader.com

The four-month rounded base pattern in RadioShack (RSH) continues to mature as the price structure pushes up against its key multi-month resistance plateau at 16.30/40. If hurdled and sustained, this should trigger short covering and new buying that projects prices to the vicinity of 18.00 thereafter.

With falling oil prices and today's better than expected jobs data, which is encouraging for future consumption (especially in entertainment and electronics-related goods), RSH along with Best Buy (BBY) appear to be well positioned to climb.

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