Boyd Gaming Corporation Stock Forecast
Boyd Gaming Corporation stock downgraded to Hold/Accumulate
(Updated on Apr 25, 2024)
The Boyd Gaming Corporation stock price fell by -1.10% on the last day (Thursday, 25th Apr 2024) from $63.59 to $62.89. During the last trading day the stock fluctuated 1.40% from a day low at $62.76 to a day high of $63.64. The price has fallen in 6 of the last 10 days and is down by -3.9% for this period. Volume has increased on the last day by 279 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 919 thousand shares were bought and sold for approximately $57.81 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $62.68 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Boyd Gaming Corporation stock with a 90% probability to be traded between $62.93 and $68.02 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BYD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.367%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Boyd Gaming Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $63.23 and $64.30. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Boyd Gaming Corporation stock
Boyd Gaming Corporation finds support from accumulated volume at $62.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.88 (1.40%) between high and low. For the last week, the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: $59.56 (-5.30%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (BYD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Boyd Gaming Corporation to open at $63.10, and during the day (based on 14 day Average True Range), to move between $61.73 and $64.05, which gives a possible trading interval of +/-$1.16 (+/-1.84%) up or down from last closing price. If Boyd Gaming Corporation takes out the full calculated possible swing range there will be an estimated 3.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $62.66 (0.37%) than the resistance at $63.49 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Boyd Gaming Corporation stock A Buy?
Boyd Gaming Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.519 Hold/Accumulate Downgraded
Predicted Opening Price for Boyd Gaming Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $63.10 ( 0.329%) | $62.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.98 | 1.73 % | |
| R2 | 63.64 | 1.19 % | ||
| R1 | 63.43 | 0.86 % | ||
| Current price: | 62.89 | |||
| Support | S1 | 62.76 | -0.206 % | |
| S2 | 62.55 | -0.536 % | ||
| S3 | 62.22 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.75 | 6.14 % | |
| R2 | 66.13 | 5.15 % | ||
| R1 | 63.49 | 0.95 % | ||
| Current price | 62.89 | |||
| Support | S1 | 62.66 | -0.366% | |
| S2 | 61.83 | -1.69% | ||
| S3 | 61.70 | -1.89% |
BYD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 26, 2024 | $0.150 | 0.239% |
| 2 | Feb 29, 2024 | Mar 14, 2024 | Apr 15, 2024 | $0.170 | 0.263% |
| 3 | Dec 07, 2023 | Dec 21, 2023 | Jan 15, 2024 | $0.160 | 0.257% |
| 4 | Aug 16, 2023 | Sep 14, 2023 | Oct 15, 2023 | $0.160 | 0.271% |
| 5 | May 05, 2023 | Jun 14, 2023 | Jul 15, 2023 | $0.160 | 0.223% |
FAQ
Click here for our free guide on how to buy Boyd Gaming Corporation Stock.
