Best Buy $BBY has been retreating in May after rallying from a low of almost $48 to a high just under $76. On the daily chart you can see how price formed a triple top and then fell sharply. BBY Daily Chart (click to enlarge) Challenging Bullish Structure:- The bullish trend since late 2018 is now being challenged.- Price has already fallen below the key moving averages (200,100, and 50-day).- Also, the RSI fell below 40 and even tagged below 30, which shows the return of bearish momentum.- Still I think the $60-$63 area is a key support area for the bullish outlook.- If price can hold above this area, I think BBY might still have a chance.- The thing is, I am not a fan of consumer staples right now. - There might be some "stickiness" around/above this $60 area, but there is too much risk for price to fall back towards the 2018 lows in the $48-$50 area. - Perhaps, it won't reach this low and find support closer to the $53 area, where we see the 200-week simple moving averages. (See weekly chart below).- The market was pricing a trade war in the late 2018 dip. Since the current dip is also based on the same factor, the downside might not be as low this time around.- I have most of my free cash allocated for other names, but BBY at $53 is interesting to me. I will be setting an alarm around $55. BBY Weekly Chart (click to enlarge)