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SmarTrend Watching for Potential Rebound in Shares of Eldorado Resorts After 1.29% Loss

By Amy Schwartz

Eldorado Resorts (NASDAQ:ERI) traded in a range yesterday that spanned from a low of $45.11 to a high of $46.49. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $45.86 on volume of 221,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Eldorado Resorts share prices have been bracketed by a low of $29.16 and a high of $50.97 and are now at $45.84, 57% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Eldorado Resorts. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Eldorado Resorts in search of a potential trend change.

Keywords: rebounders eldorado resorts

Ticker(s): ERI