BJK is currently levitating at a major POC
32.5 region. The centerline of the ascending channel
is also another major support in the same area as the POC
. An intermediate down trend in a linear channel started construction in 3-3-14 after price rejected 2x top evening star
formation. Price is on the upper 1/2 of the value area, but the LVNs below are a concerning factor extending into the low 20s. The next POC
is in the 23-25 region which would mean the long term traders will add an extension to selling. Critical support here. Watching for short term intermediate trends in numerous large market capitalized casino stocks. If a fade occurs the industry will resume the long timeframe sellers. That would mean a similar wave collapse to 2008, but more controlled in fashion this time around.