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Candle stick graph and bar chart of stock market investment trading. Analysis Forex price display on computer screen.

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We first published on Boyd Gaming on Aug. 8, 2015 ($16.95), to report a breakout and provided initial targets of $18 and $20. Four months later, it rallied to $21.20 to fulfill and exceed our targets (A). The stock encountered some resistance near ±$21.50 (dashed line), yet continued to trade above its rising trend-line (solid line). The recent rise to $26.20 (B) signalled a breakout and the continuation of the up-trend. The stock is somewhat overbought and may have a minor correction toward ±$23, but only a sustained decline below ±$21 would be negative. Point & Figure measurements provide targets of $27 and $29. Higher targets are visible.

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: decisionplus.com

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About the Authors
Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More

President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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