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Eldorado Resorts Falls 5.76% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Eldorado Resorts (NASDAQ:ERI) traded in a range yesterday that spanned from a low of $35.45 to a high of $41.90. Yesterday, the shares fell 5.8%, which took the trading range below the 3-day low of $36.03 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Eldorado Resorts on October 8th, 2018 by issuing a Downtrend alert when the shares were trading at $43.95. Since that call, shares of Eldorado Resorts have fallen 11.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Eldorado Resorts share prices have moved between a 52-week high of $50.64 and a 52-week low of $10.65 and are now trading 244% above that low price at $36.64 per share. 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%.

Keywords: rebounders eldorado resorts

Ticker(s): ERI