Boyd Gaming BYD-N had a sharp rise from $6.44 in 2020 (not shown) to $70.84 in 2021 (A) above the rising 40-week Moving Average (40wMA); it then settled in a wide horizontal trading range mostly between $49 and $72 (dashed lines). The recent advance to $78.58 above the top of this range signalled a breakout and the start of a new uptrend (B).
Behaviour indicators including the rising 40wMA confirm the bullish status. There is good support near $70. Only a sustained decline below this level would cancel the current upside potential.
Point & Figure measurements provide targets of $84 and $89. The large trading range (dashed lines) support higher targets.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com