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Watch for Continued Gains in Shares of Boyd Gaming (BYD)

By Shiri Gupta

Shares of Boyd Gaming (NYSE:BYD) traded at a new 52-week high today of $25.45. This new high was reached on below average trading volume as 94,000 shares traded hands, while the average 30-day volume is approximately 1.5 million shares.

Boyd Gaming (NYSE:BYD) defies analysts with a current price ($25.30) 7.0% above its average consensus price target of $23.53. The stock should discover initial support at its 50-day moving average (MA) of $19.50 and subsequent support at its 200-day MA of $18.25.

In the past 52 weeks, Boyd Gaming share prices have been bracketed by a low of $13.35 and a high of $25.45 and are now at $25.30, 89% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.2%.

Boyd Gaming Corporation owns and operates several gaming properties throughout the United States. The Company also operates entertainment, restaurants, shopping, and recreational facilities on its properties.

SmarTrend recommended that subscribers consider buying shares of Boyd Gaming on November 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.04. Since that recommendation, shares of Boyd Gaming have risen 32.5%. We continue to monitor BYD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows boyd gaming

Ticker(s): BYD