MGM - Divergence was corerct. How low will it go now?
Hello Investors,
Last time I made a bold statement that probably was distasteful to read. However the divergence we looked at did work and MGM did drop, I'm happy about that turnout. I didn't make any money on the drop, but it tells me I'm in harmony with the market sentiment at the moment.
Looking at the current 200 MA (close), I think the price will gravitate towards the 200MA. I'm pondering the questions, "How low will it go before it goes back towards the 200MA?".
MGM is a CASINO, it will bounce back it just depends on locals and tourists going to the casinos. People love to gamble, if the casinos are still closed that means people can't go inside to spend money. MGM acting CEO stated that all USA MGM's were closed, Macau MGM(been there) is still open. MGM USA will stay closed until the state stay-at-home order is lifted.
"Nevada: Gov. Steve Sisolak said in a press conference on April 21 that there is no firm date when businesses will be allowed to reopen." (source: abcnews.go. com/US/list-states-stay-home-order-lifts/story?id=70317035)
I hope this was valuable. Please comment, like and follow, I would appreciate it.))
Last time I made a bold statement that probably was distasteful to read. However the divergence we looked at did work and MGM did drop, I'm happy about that turnout. I didn't make any money on the drop, but it tells me I'm in harmony with the market sentiment at the moment.
Looking at the current 200 MA (close), I think the price will gravitate towards the 200MA. I'm pondering the questions, "How low will it go before it goes back towards the 200MA?".
MGM is a CASINO, it will bounce back it just depends on locals and tourists going to the casinos. People love to gamble, if the casinos are still closed that means people can't go inside to spend money. MGM acting CEO stated that all USA MGM's were closed, Macau MGM(been there) is still open. MGM USA will stay closed until the state stay-at-home order is lifted.
"Nevada: Gov. Steve Sisolak said in a press conference on April 21 that there is no firm date when businesses will be allowed to reopen." (source: abcnews.go. com/US/list-states-stay-home-order-lifts/story?id=70317035)
I hope this was valuable. Please comment, like and follow, I would appreciate it.))
