YoungInvestorsUCF

Cautious From $LVS ER Miss - Looking For Support/EMA Bounce

NYSE:MGM   MGM RESORTS INTERNATIONAL
$MGM has been bouncing off a strong upward sloping support level since late April             . Over the past week we have seen consolidation with small bodied candles and short trading ranges.

After testing the 50ema yesterday, we closed just a few pennies above that level. I am looking to see a nice bounce off of this support line as well as off the 50ema. Will be keeping an eye on the 20ema as the next resistance level
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