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Everi (EVRI) Gets Stuck | The Mesh Report

Everi (EVRI) Gets Stuck

Christian Tharp, CMT January 12, 2022 Comments Off on Everi (EVRI) Gets Stuck

Everi Holdings, Inc. engages in the provision of technology solutions to the casino, interactive and gaming industry. It operates through the following segments: Games and FinTech.

Take a look at the 1-year chart of Everi (NYSE: EVRI) below with the added notations…

Chart of OLN provided by TradingView

EVRI has been trending lower since its October high and has now fallen into a trading range between the $19 support (green) and a $22 resistance (red). At some stage, the stock will break out of the range, and that break will likely dictate the stock’s next big move.

The Tale of the Tape: EVRI is trading in a sideways range. Long trades could be entered on a pullback to support, or on a break of resistance, with a protective stop set underneath the point of entry. An ideal short trade could be made on a break below support.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!

Good luck!

Christian Tharp, CMT 

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