Eldorado Resorts stock downgraded to Strong Sell Candidate
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-26 PDF
The Eldorado Resorts stock price fell by -2.92% on the last day (Friday, 26th Nov 2021) from $93.94 to $91.20. During the day the stock fluctuated 4.89% from a day low at $87.00 to a day high of $91.25. The price has fallen in 8 of the last 10 days and is down by -10.49% for this period. Volume has increased on the last day by 1 million 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, 3 million shares were bought and sold for approximately $274.00 million.
Given the current short-term trend, the stock is expected to fall -5.26% during the next 3 months and, with a 90% probability hold a price between $86.40 and $109.45 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The Eldorado Resorts 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 $95.09 and $106.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, October 01, 2021, and so far it has fallen -23.68%. Further fall is indicated until a new bottom pivot has been found. 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.25 between high and low, or 4.89%. For the last week, the stock has had a daily average volatility of 3.88%.
Eldorado Resorts is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Eldorado Resorts stock A Buy?
Eldorado Resorts holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.602
Predicted Opening Price for Eldorado Resorts of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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Morgan Stanley is very positive about ERI and gave it a "Overweight" rating on Jul 20, 2020. The price target was changed from $23.00 to $52.00.
ERI Insider Trading
|Jan 29, 2021||Buy||4 237||Lepori Stephanie||Restricted Stock Unit|
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|Jan 29, 2021||Buy||16 951||Carano Anthony L.||Restricted Stock Unit|
|Jan 29, 2021||Buy||20 993||Carano Gary L.||Restricted Stock Unit|
|Jan 29, 2021||Buy||2 933||Fahrenkopf Frank J Jr||Restricted Stock Units|
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