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Boyd Gaming (
BYD) owns and operates gaming entertainment facilities located in Nevada, Mississippi, Illinois, Louisiana and Indiana. This stock closed up 3.5% at $12.36 in Monday's trading session.
Monday's Volume: 3.40 million
Three-Month Average Volume: 2.18 million
Volume % Change: 175%
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From a technical perspective, BYD bounced notably higher here right above its 50-day moving average of $11.69 with strong upside volume flows. This move is starting to push shares of BYD within range of triggering a major breakout trade. That trade will hit if BYD manages to take out some near-term overhead resistance levels at $13.79 to its 52-week high at $14.50 with high volume.
Traders should now look for long-biased trades in BYD as long as it's trending above its 50-day at $11.69 or above more near-term support at $11.27 and then once it sustains a move or close above those breakout levels with volume that's near or above 2.18 million shares. If that breakout hits soon, then BYD will set up to enter new 52-week-high territory above $14.50, which is bullish technical price action. Some possible upside targets off that breakout are $17 to $20.
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