stock
Boyd Gaming (BYD-N, Monday’s close US$88.49) traded within a broad horizontal range between roughly US$49 and US$72 for about four years (dashed lines). On Feb. 12, 2025 (US$73.96), we identified a breakout from this range and suggested targets of US$84 and US$89. The stock rallied to US$88.03 in June (A), essentially fulfilling our targets.
Since then, Boyd Gaming has been consolidating within a new trading range, roughly between US$75 and US$88 (dotted lines); a decisive rise above US$88-89 would signal the resumption of the long-term uptrend.
Behaviour indicators, including the rising 40wMA, confirm the bullish status. There is good support at the average (currently near US$78-79); only a sustained decline below this level would be negative.
A rise above US$88-89 would signal Point & Figure targets of US$94 and US$104. The broad historical trading ranges (dashed and dotted lines) suggest the potential for even higher levels over time.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart, courtesy of www.LSEG.com