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Chart of the Day: Is Caesars Following Travel Stocks Higher?

Travel stocks have climbed recently, and now Caesars Entertainment could be showing signs of strength.

The first pattern on today’s chart is the falling trendline along the highs of February, March and mid-June. The casino operator pushed above it at the end of the last quarter and returned there on Monday. Further upside from here could make traders think resistance is fading.

Bollinger Band width has also …

For more, please click here to view the related idea and chart analysis on TradingView.

Caesars Entertainment (CZR), daily chart, with selected patterns and indicators, courtesy of TradingView.
Tags: CZR

About the author

David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.