MGM ✅ Why Go To Vegas When You Can Speculate On MGM From Home!

💬 MGM International Resorts (MGM) is rolling out its new 'Viva Las Office' campaign to get people to work from Vegas. That could help drive business to MGM properties, which could be why the market is showing us some bullish options flow and decent price action. While we are skeptical this single event makes a giant impact, we think all these factors together (along with the recent earnings beat) are enough for a conservative swing play. Let's see if we can find a setup that works.


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Support:

• S1: Our entry is going to be off the minor price pivot point, a current S/R flip, and previous orderblock cluster range. The logic is that we retest this level before moving up. Meanwhile, we are placing our stop below the S/R flip to give us a solid 1:5 Risk-to-Reward that keeps us well away from any short term downside volatility that might be seen as the price is finding support.
  
  
  Resistance:
  
• R1: Our target is the orderblock at the previous swing high as highlighted on the chart.
  

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Summary:
We have a pretty straightforward setup here. Retest the S/R filp, and then go long until the next resistance level is hit while keeping a comfortably placed stop well below support to mitigate risk... its a gamble with good odds, and we didn't even have to leave the office to do it.


Resources:
finance.yahoo.com/ne...vegas-133000808.html
www.marketbeat.com/s...s/NYSE/MGM/earnings/


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