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Best Buy (BBY) - Anticipating Support after ABC Correction

Last time we looked at Best Buy (BBY), we noted a couple of things: 1) It is bullish. 2) The recent pattern is that when price retreated back near the previous consolidation range, it rebounded. This week, price has completed an ABC correction and is right near the previous consolidation range.

Best Buy (BBY) Daily Chart

(click to enlarge)

- As we can see on the daily chart, price has been in an ABC correction (A is the first leg down, B is the rebound, C is the latest leg down).
- Also note that the previous consolidation had a high of 52.67 and price has a low of 53.10 so far this week.
- Furthermore, note that the RSI is now at 40. The last few times the RSI came back down to around 40, price rebounded and made a new high on the year. 
- Will this pattern rinse and repeat? 
- I think there could be further downside towards 52, or even 51. A break below 50 on the other hand would suggest that the prevailing bullish trend might be over.
- In this case, we should not anticipate a bullish continuation but if we see a bullish swing, it might be within the context of a sideways or even bearish market.