Casinos stocks showing relative weakness as they trade below key moving averages. At the same time major indexes are at their highs.
It is hovering around 200 EMA at $73.22 and today gapped below, it could be new point of reference.
Major support at $72 which is in tact since February 2014. Break and hold below for few days could lead to some downside follow through.
Resistance is down trend line as bears keeping preassure on price as we can see with lower highs and recent swing high at $77.50.
Potential target could be at $64 which acted like support during September-October of 2013.
It is hovering around 200 EMA at $73.22 and today gapped below, it could be new point of reference.
Major support at $72 which is in tact since February 2014. Break and hold below for few days could lead to some downside follow through.
Resistance is down trend line as bears keeping preassure on price as we can see with lower highs and recent swing high at $77.50.
Potential target could be at $64 which acted like support during September-October of 2013.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.