NYNY Volatile After Vote
PowerRatings are based on the relative strength or weakness of particular stocks or ETFs. The higher the rating, the greater the one week historical gain has been for stocks and ETFs with that rating. For best results, enter these trades with a limit order 3-7% below the previous day’s closing price. Higher % limit entries have historically shown a greater percentage of winning trades but higher % limit orders also reduce the chance of trade execution.
In the past, buying stocks with a rating of 10 on a 3% pullback the next day and selling five days later has been profitable 75% of the time. The average winner has gained 5.9%. Other entries and exits also show high winning percentages and large average gains.
Empire Resorts (NASDAQ: NYNY) has been volatile since New York state voters approved the building of Las Vegas-style resorts in their state earlier this month. After surging higher on the news, NYNY has pulled back and now has a PowerRatings of 10.
News can drive stock prices higher and lower as NYNY demonstrated this month. PowerRatings indicates that NYNY could be a buy below $4.80.