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After Yesterday's Rally of 20.64% Shares Could Potentially Pullback

By James Quinn

Eldorado Resorts (NASDAQ:ERI) traded in a range yesterday that spanned from a low of $22.09 to a high of $25.24. Yesterday, the shares gained 20.6%, which took the trading range above the 3-day high of $21.45 on volume of 11.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Eldorado Resorts share prices have moved between a 52-week high of $70.74 and a 52-week low of $6.02 and are now trading 290% above that low price at $23.46 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 8.8%.

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