SGMS – Scientific Games Corp

Updated May 8, 2019

A month ago I provided the first update on this ticker and found “… has a lot going for it, albeit being below its declining 20d to 200d SMA. There’s positive divergence on the daily and weekly technical indicators and price has down a nice 62-76% retrace.” Today’s +20% day on earnings add weight to the evidence a new up leg has started. A move above the 50d and 200d SMA would greatly enhance the odds of more upside.

The weekly chart continues to look good for with confirmed positive divergence on the RSI5 (dotted green arrow). A move above the 50w SMA, which is around the 200d SMA, clearly will allow for more upside to the $30+ level.