Best Buy Co, Inc (NYSE: BBY) has had a nice run over the past four months, although not quite as nice as competitor Circuit City Stores Inc. (NYSE: CC) has had.  If our technical analysis is on the money here, it still has move room to run from here. Let's take a look at the one-year chart of BBY:

Notice how the stock has now entered into a very nice and stead uptrend channel. Although volume is fairly dry, the stock has moved to new 52-week highs and looked extremely solid in the process. We are now getting a dip into the bottom of the trend channel, which should provide an excellent buying opportunity for stock traders in the short run.

Andy Swan is co-founder and head trader for DaytradeTeam.com.  To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.