Best Buy Inc. $BBY has been bearish since September, and recently broke below some key support levels opening up a bearish reversal or at least significant bearish correction scenario.BBY Weekly Chart(click to enlarge)Bearish Breakout; Support and Resistance: - Note that for a few weeks price was sticking around $70, hovering above ta couple of rising support factors.- Price finally broke lower last week, and is extending lower this week.- Now, as BBY reaches the $61-$63 area, it is testing a previous consolidation resistance as support.- While we might see some short-term rebound from this support area, we should limit the upside to the $68-$70 area.- Meanwhile, there could be downside towards the $49-$52 area. - This area contains a bunch of previous pivots, as well as the 200-week simple moving average (SMA). - I think we should limit our downside to around $50, and upside around $70.