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SmarTrend Watching for Potential Pullback in Shares of Eldorado Resorts After 17.79% Gain

By David Diaz

Eldorado Resorts (NASDAQ:ERI) traded in a range yesterday that spanned from a low of $39.60 to a high of $43.15. Yesterday, the shares gained 17.8%, which took the trading range above the 3-day high of $35.85 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Eldorado Resorts share prices have been bracketed by a low of $10.65 and a high of $43.15 and are now at $41.95, 294% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 2.5%.

SmarTrend is tracking the current trend status for Eldorado Resorts and will alert subscribers who have ERI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders eldorado resorts

Ticker(s): ERI