What is up, everybody welcome to trey's trades, where we do a technical analysis on different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks. I like the purpose by saying that i am not a financial advisor nor expert. I am just a man, i'm doing youtube, so take what i say with a grain of salt. The reason that i started this channel is because a couple years back, i was about 30 000 deep in some pretty bad medical debt, and i was very fortunate to have some close family friends and mentors that pushed me to work really hard and invest my money In the market - and i'm now happy to say that i am not only financially free but doing pretty well for myself at the age of 23.

So if i can pass along any of the information resources or tools that are given to me, make the community a little bit better off than it was before, that's all i can ask for. Lastly, if you wouldn't mind dropping a like on the video, it really does help support the channel and consider subscribing if you'd like to see more content like this, as i do post videos every day, multiple times a day, now quick shout out to the guys over At the patreon you know ryan work, nathan, young devil, michael tran ryan finger size toes interesting name. My friend ather alex andrew these guys. I appreciate your support so much.

It really does mean a lot to me. They'll have access to the private discord as well as real-time insight to my personal trading. Now, today, we're going to be doing a update on ticker symbol, gnog golden nugget online gaming, previously known as lca before the merger happened, and i just want to give an update on some of the price action here. We're going to take a look at a couple of different indicators: i've got the volume adjusted moving average.

The 20 day period pulled up as well as the 200 period ema i'll describe. What both of these are we'll take. A look at the rsi indicator. The overall volume trend that we're seeing both bullish and bearish movements and we'll take a look at uh.

Any sort of you know pattern that we're seeing on the charts. I do have pulled up the the uh one month chart as well as the one day. One minute chart before we get going if you're not familiar with what golden nugget is. They are an online gambling and casino company.

They have a whole bunch of different sort of stuff. They've got like online slot machines, blackjack poker, roulette, any sort of uh gambling that you can find in an actual casino. They do have available online uh, and i do see this being a very solid company in the future. I i anticipate that they're gon na match, on par with draftkings and as the states move forward with legalization of gambling in all 50 states.

I do think these guys are going to be a big player, so this is going to be a great stock to hold for a long term investment. You know not not a particularly great stock for a mid or a midterm or short term. You know day or swing trading opportunity, but they uh. They have a lot of potential guys if you're willing to hold the stock for a year to five years.

I do think you're going to see a very solid payout and by the end of the year. I would not be surprised whatsoever with a 30 dust, a 30 plus price valuation on the stock. Now i have an article pulled up that i find very interesting. I just want to read to you a couple of key points and i will leave this in the description box as well.

If you are interested golden nugget online gaming is now public and worth up to 65 percent more. This was posted about 10 hours ago, so that would have been on january 7th of 2021 uh. They are up to 65, more based on a simple comparison with draftkings after their merger on december 30th. Now there was one particular thing that i did find very interesting on here.

What golden nugget online gaming is worth g knock. Stock is trading for about 12 times its revenue on an enterprise value basis, but dkng stock trades at about 19.5 times, enterprise value to sales, and what this is getting at is there is a lot more upside to golden nugget than it is currently trading at, and He does specify that later, so he says, therefore, assuming both companies should have a similar or fairly similar valuation, as the only two online gaming stocks gnocc should move up in value. This implies that genocide stock should trade at about 33.92 cents per share. Given the current valuation on the company, the current uh, the current ev to sales, which would move it up to about 33.92 per share or 65 percent above its price on january 5th of 20.59, and i do anticipate this happening in the future.

So you could. You could argue that this is a price upgrade on golden nugget, online, gaming and uh. I do think that 33 dollars is very realistic in the in the midterm and honestly by the end of the year. If we do have some push to legalize online gambling in the states, i would not be surprised whatsoever with 35 to 40 on the stock uh as draftkings is doing pretty decently.

Well, so i will leave a link to this in the description box. If you'd like to read it closer, i just thought it would be interesting for you to get your eyes on if you are uh speculative on g-nog, as it has been on a pretty bearish run over the last week or so now. If you look at the rsi indicator, we are looking uh, you know pretty neutral we're trading at 51.. Anything over 70 is oversold.

Anything under 30 is over, as i was anything over. 70 is overbought. Anything under 30 is oversold. We are currently sitting pretty neutral.

50. Being neutral, so you can see that with the price action you know, we are in a little bit of a consolidation phase right now, nothing, nothing too crazy, nothing out of the ordinary uh we're going to establish some levels of support and resistance on the stock. In case you were thinking about getting in i like 18.87, so we do have one two three different candlestick touch points there looking pretty solid, followed by probably the acting level of support at this given moment of about 19.71. We only have two contact points just about three, so if we move this up just a little bit, we'll call that 19.82 cents on the the next level of support, and then we are going to be looking at some near side levels of resistance sitting right around Here at about twenty dollars, and then i will say, the next level of resistance is sitting right around here at a previous level of support at about 23.47, so be watching for those uh those different levels.

If you are holding a position in the stock, if we do push over 2152, i would expect the next level of price action to happen somewhere in the mid 22s and then push up to 23.50 or so looking pretty solid there. There is one thing: that's happening on the 200 ema and the the 20 day vama. That is interesting to me and if you're not aware, the 200 ema is a average valuation cost trend line over 200 day period, moving time and we're sitting at 2140. For that and then the 20 period volume adjusted moving average.

The vama is currently sitting at 1998 and this is an overall average valuation on the volume action on a current stock. It does take that into consideration. So there is a point in here. That is a very bearish indicator and i just want to bring that to your attention if you are holding a position in the stock just to be completely transparent, i am currently not.

I will be planning on getting into this stock in the future, but i am watching to see you know a potential bottom out see if we're going to retest this 1982 1887. You know cost level for for support, but this is a very bearish indicator right here. So, any time that the volume adjusted moving average crosses below the 200 period, ema, that is a very bearish sign the larger the gap between these two lines, uh, the more the more bearish you're looking on a given stock right. So just be just be aware of that, and if you do see it crossover like we have in the past right so i'll draw up just an example: a crossover of the volume adjusted moving average over the 200 period dma.

That is a pretty bullish indicator. So if you got in at this point 22.55 and you've gotten out at the high of 2810, you would have turned around a pretty solid. You know return there pretty solid margin. You would have been up about six dollars per share.

Uh, not not too bad. For about five days, swing right, um, so just be watching for that. That is currently where we're sitting at with the price action. It is bearish territory.

As you can see, we are on a downward trend um, but i do anticipate that it will turn around eventually when's that going to happen. Well, i can't tell you for sure, because the trend is currently bearish and it does look as though we will continue that looking at these last two days, we are currently up in the pre-market right now. I will get into the price action on the pre-market and the one-day one-minute chart once we cross over there. But this is the current territory that we're looking at with g-nog.

It is bearish and if you're looking to either improve your position or establish a position on golden nugget online gaming, you know anywhere between 1887 and 1982. I really like, as an entry point on the stock and if you catch it, slipping below 1887. That's just not a fair price valuation on the company. Honestly, they have, they have a lot of potential and 2021 is going to be a pretty huge year, especially if the states do push to legalize online gambling or gambling in general in in more areas of the us, so i'll just be watching.

For that, that's what i'm seeing right now on the macroscopic view of the stock, if we pull up gnog and we want to establish the levels of support and resistance in the near side, we're looking at about 19.66 right here followed by to do to do. We are currently trading below this, so i would argue, you know about 20 dollars and 13 cents is the next level of support and then you're looking at resistance levels right around here. I like this candlestick. This is very indicative at 2060, followed by 2089 and then, lastly, a resistance level sitting right here at about 21.38, so these are going to be the important levels to push through.

I would expect a pretty fair level of resistance right now on this stock. I would imagine that the the short selling that is happening right now with gnog is fairly high, just considering the overall selloff that we're seeing. If you are looking to day trade, this, you would be going with the trend if you were looking to short sell. So if you see a bounce off of any of these resistance levels and then pressure selling pressure back down to these levels of support of 2013 1969, you could look at these as potential entry and exit points right.

So you could begin your short. If we push up to 2089, if you see a bounce begin, you're short, if we see it push through 2060, more selling pressure hold your position. You know if we see a bounce off of 2013 and then move movement back upright. You may want to consider exiting your position as you would be very solid, locking in your profits at that point and you'd walk away up some money.

So that's currently, where we're looking right now in the after hours and pre-market the the non-regular trading hours, we do have a crossover between the volume adjusted moving average and uh the 200 period ema, which is a bullish indicator on the one month or the one day Chart so you know we may see a shift in an overall trend back to the bullish side. If this does continue into the regular trading hours. However, it is not guaranteed that will happen, as the macroscopic trend, if you can see here, is bearish, so just do keep that in mind, with uh with your day trading or swing trading. If you are planning on doing so, keep in mind the overall view of the company uh from the macroscopic view it is, it is bearish, so you will be going against the grain if you decide to long this stock for a day trade.

So just be very wary on your position if you plan on doing so. That is what i have on the update for ticker symbol, gn og golden nugget online gaming. If you have any questions, please leave it in the comment section. I will do my best to get back to everybody.

I i know that i can't get back to everybody every single time. It is getting a little bit tough to keep up with the comments, but i do try my best and i do love engaging with you guys. It really does mean a lot to me. Um if you enjoyed the video, please drop a like.

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Uh, thank you for watching. The video really does mean a lot to me and i will see you all next time. My friends, peace.