This stock was in a longer term accumulation phase. Making higher highs and higher lows.
Put sale is below the 100 SMA. Decent premium and BYD is in a distribution phase / more bullish than bearish.
BYD is very close to the channel top. It's time to short this stock.
Potato wedges. Alot of casino stocks are wedging on the charts. $LVS $MPEL to name a few
BYD broke through almost two years of resistance on the recent push out toward $8.00. It has since fallen back and is re-testing the broken trend line. So far it has held on a weekly basis, and I expect further gains ahead as long as this holds true
FYI the company will report Feb 20, 2013. This pattern along with aggressive accumulation that has been going on a while suggest the measured move to $10 is very within reach. If you decide to take a long position, make your stop loss at recent swing low at $6.51 with target price $10 another 40% upside potential. Join us where serious traders come and trade...
Comment says it all on Chart. Similar setups called out recently (See $ATHN). Also $MGM $CZR went today so in play.