#MGM has been forming a nice bullish wedge, and today broke out of that formation to the upside. We entered a position after a healthy bump up off the 50% line on the 4hr RSI chart, MGM has plenty of room to make its way towards the $24 target and beyond. Positive earnings from partner casinos is contributing to the positive direction of MGM’s stock.
Comment:
Well, Given just a little bit of time, MGM went beyond the expected breakout, backtested the resistance and has now started to build off the $24 area as support. #greatchartsmakegreattrades