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Caesars Entertainment (
CZR) is a casino-entertainment provider and a diverse U.S. casino-entertainment company. This stock closed up 4.2% at $18.36 in Friday's trading session.
Friday's Volume: 1.55 million
Three-Month Average Volume: 636,136
Volume % Change: 205%
>>3 Stocks Under $10 in Breakout Territory
From a technical perspective, CZR jumped higher here and broke out into new all-time high territory above $18.37 with heavy upside volume. This stock has been uptrending strong for the last two months, with shares moving higher from its low of $11.90 to its intraday high on Friday of $18.73. During that move, shares of CZR have been consistently making higher lows and higher highs, which is bullish technical price action.
Traders should now look for long-biased trades in CZR as long as it's trending above Friday's low of $17.39 or above more near-term support at $16, and then once it sustains a move or close above its all-time high at $18.73 with volume that's near or above 636,136 shares. If we get that move soon, then CZR will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that move are $22 to $25.
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