With former high-flying gambling stocks struggling so far in the fourth quarter, it's tempting to write off the entire group. But a quick review of the charts unveils two online gambling names that have been strong outperformers and feature compelling technical configurations going into December. The S & P 500 is currently sitting about 16% above its August low, and casino operators Caesars Entertainment and MGM Resorts International have given back much of their autumn gains.
pushed above its March high around $225, the stock pulled back to the breakout level and found new support. Earlier this month, a positive earnings beat created an upside gap to a new all-time high above $250. The post-gap performance of Flutter is most impressive, with a "gap and run" pattern where the stock pops higher and then additional buyers create even more upside potential.
has now made a new 12-month relative high, as the strong performance in Q4 has outpaced other gambling stocks as well as the major equity benchmarks. With the S & P 500 and Nasdaq 100 continuing their relentless bullish trends into December, it can be a challenge to identify stocks with the potential to outperform. By focusing on the fundamentals of technical analysis, we can easily identify charts with high percentage setups and strong technical profiles.
Click here for the full disclaimer.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »