Shares of Best Buy (BBY) have been bullish in 2016, rallying from a low of 25.31 in January to a high of 40.58 in August. But since that high in August, price has been stalling and retreating. As we can see in the weekly chart, the market respected a projected trendline which is also a triangle resistance.BBY Weekly Chart (click to enlarge)Long-term coiling:- As we can see in the weekly chart, price price has been coiling essentially by the end of 2013. Coiling is just consolidation with lower highs and higher lows.- This means that the market has been essentially sideways since the 2013 bullish swing. Bearish outlook:- I think the market has shown that 40.00 is a key resistance.- The market showed that BBY is still in a consolidation mode as it has been in since late 2013.- However, we also have to consider the possibility that the 2016 is the start of a bullish continuation run. In this scenario, we should limit the bearish outlook .- One level we should monitor is around 34, which is a previous support/resistance pivot area and the top of the cluster of 200-, 100-, and 50-week simple moving average.Bullish scenario:- If price can hold above 34, I would look at this market as neutral-bullish. - The bullish bias comes from the fact that the prevailing swing heading into this multi-year consolidation was bullish (in 2013).- The bullish bias would build stronger if price holds above 34. - In the medium to long-term bullish scenario (maybe in 2017), BBY has the 44.00 highs from 2013 in sight. Here's the latest news for BBY from StreetInsider.comFor more than 50 years, customers have relied on Best Buy (NYSE: BBY) to help them learn about and enjoy consumer electronics. Now Best Buy’s Ignite program gives customers access to even more of the latest technology from some of the world’s most inventive entrepreneurs and startups in consumer electronics.Key features of the program include dedicated store space for products and services from startups; a new section onBestBuy.com where customers can browse, learn about, and purchase the newest products from startups; and a partnership with PCH, a product innovation company that works closely with startups to help get their products into consumers’ hands, faster and at a lower cost.Revamped Silicon Valley StoreA new Ignite space in the new Mountain View Best Buy store(which opened September 16 after relocating from its previous location in Sunnyvale) is designed to give customers an opportunity to discover and learn about some of the newest tech products on the market.The Best Buy Ignite space currently features three experiences: A selection of crowd-funded gadgets from startups, including the Tangram smart rope, Flic smart button, RoBo 3D printer, Zuli Smartplug andNoke Bluetooth padlock – all of which are also available on BestBuy.comWearable technology showcasing the latest from Under ArmourAudio showcasing Muzik, smart and connected headphones, and Bragi, wireless smart earphonesFor customers outside of the Bay Area, other startup products can be found online and in hundreds of Best Buy stores nationwide. Examples include the Anova precision cooker and Fizzics draft beer system, Keen Home smart vent, Petcube pet camera and Luma Home Wi-Fi system. Many stores will also have the Mevo live event camera, SkyLab camera stabilizers and Prynt instant photo printer.PCHBest Buy’s partnership with PCH will make it easier and quicker for Best Buy customers to get their hands on startups’ innovative products, both in Best Buy stores and on BestBuy.com. Now, select startups will be able to take advantage of PCH’s services, including assistance with product development, manufacturing, packaging and inventory management.Ignite OnlineLater this fall, customers will be able to visit a new Best Buy Ignite page on BestBuy.com to browse, learn about, and shop for new products from some of the most innovative startups. The new section will include a variety of gadgets, including many of those currently featured in the Best Buy store in Silicon Valley.Entrepreneurs and startups interested in participating in Best Buy’s Ignite program don’t need to wait; they can sign up now at https://www.bestbuy.com/ignite/vendors.Article from StreetInsider.com