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Eldorado Resorts Bearish Moving Average Crossover Alert (ERI)

By David Diaz

Today, shares of Eldorado Resorts (NASDAQ:ERI) have crossed bearishly below their 10-day moving average of $39.91 on a volume of 137K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Eldorado Resorts has traded in a range of $31.86 to $54.42 and is now at $39.56, 24% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 2.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Eldorado Resorts on June 25th, 2019 by issuing a Downtrend alert when the shares were trading at $44.40. Since that call, shares of Eldorado Resorts have fallen 9.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses eldorado resorts

Ticker(s): ERI