We first published on Boyd Gaming on Aug. 8, 2015 ($16.95), to report a breakout and provided initial targets of $18 and $20. Four months later, it rallied to $21.20 to fulfill and exceed our targets (A). The stock encountered some resistance near ±$21.50 (dashed line), yet continued to trade above its rising trend-line (solid line). The recent rise to $26.20 (B) signalled a breakout and the continuation of the up-trend. The stock is somewhat overbought and may have a minor correction toward ±$23, but only a sustained decline below ±$21 would be negative. Point & Figure measurements provide targets of $27 and $29. Higher targets are visible.
Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.
Chart source: decisionplus.comReport Typo/Error