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Eldorado Resorts Inc (ERI) “On a long-term technical basis, the stock (ERI) is trading below its 200-day moving average which generally implies it is in a negative trend.
The stock has support at 36.51 and 34.67. If the stock breaks down through support at 36.51 then it will probably continue lower to 34.67. The stock has resistance at 41.15 and at 44.95. If the stock breaks up through resistance at 41.15 then it will probably continue higher to 44.95. The 200-day moving average is at 41.15. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 36.51 look for a rally to previous highs. The stock is neutral according to the Stochastic Indicator (51.38).”
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