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Lakes Entertainment(LACO - Get Report) develops, finances and manages casino properties. It currently has development and management or financing agreements with three separate tribes for casino operations in Michigan and California, for a total of three casino projects. This stock is trading up 5.9% to $3.21 in recent trading.
Today's Range: $3.09-$3.27
52-Week Range: $1.75-$3.46
Three-Month Average Volume: 41,150
From a technical perspective, LACO is bouncing higher here right above its 50-day moving average of $3.02 with lighter-than-average volume. This move is quickly pushing shares of LACO within range of triggering a major breakout trade. That trade will hit if LACO manages to take out its 52-week high of $3.46 and then some past resistance at $3.55 with high volume.
Traders should now look for long-biased trades in LACO as long as it's trending above its 50-day at $3.02 and then once it sustains a move or close above $3.46 to $3.55 with volume that hits near or above 41,150 shares. If that breakout triggers soon, then LACO will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $4 to $4.50 in the near future.