I'm not looking to buy into this until I examine the fundamental aspect of MGM Resorts, but most of us might already know that it hasn't been quite peachy for them during 2014, but what I find interesting in this is the above average volume at bid during the end of 2014 & Q1 2015. Which shows to me potential institutional buyers scooping up shares at a potential discount for the next leg up to $28 p/ share and possibly above... I believe that we can also be stuck within the new range between $16 p/share & $28 p/share.
Between 2010 & 2013 the stock found itself stuck between a roughly $8 price range, with W1 volume showing large accumulation of shares happening throughout the time, and price breaking the highs August 2013. So what I'm seeing is another potential accumulation of shares before another leg higher. Which will make for decent multi-week swing trading for passive portfolio growth. Of course, I won't make any decision to take any positions as such until I examine the fundamental strength & outlook of the company.
So all in all I just thought this would be an interesting chart to post for anybody looking for diversification into passive QoQ growth. Which is something I definitely look to always have along with more aggressive/riskier positions held.
Cheers, happy trading! =)
Between 2010 & 2013 the stock found itself stuck between a roughly $8 price range, with W1 volume showing large accumulation of shares happening throughout the time, and price breaking the highs August 2013. So what I'm seeing is another potential accumulation of shares before another leg higher. Which will make for decent multi-week swing trading for passive portfolio growth. Of course, I won't make any decision to take any positions as such until I examine the fundamental strength & outlook of the company.
So all in all I just thought this would be an interesting chart to post for anybody looking for diversification into passive QoQ growth. Which is something I definitely look to always have along with more aggressive/riskier positions held.
Cheers, happy trading! =)