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Volume trend looks good, volume profile indicates most of the recent volume is above where we are right now.
Based on the broadening formation, MGM could SOAR over the coming months. 40+
Potential cup and handle rally for MGM. See if the stock finds support at a low of $29.38 and is coupled with a volume spike on the upswing. Watch for a breakout past the purple line, let's see where this thing goes.
Bulls at cashier desk asking for more credit.
see chart, not a financial advice
$MGM popping on chance of union deal. I like $WYNN $LVS more
Hunting the dips in decent companies after hysteric sell-offs. That's what I'm doing in US stock markets. The other strategy that gave profits was buying into undervalued sectors with great perspective, which I don't do now, as the last sector I believed in was the IT-related (FB, AMZN, GOOG, BABA) and it was all fun and games until this year where it just doesn't ...
$MGM Oversold at Support - significant bullish options activity as well
This is not the first idea that I share in the Consumer Services Industry,
what happens is that I do not listed them, as I did with the financial Industry (#1, #2, #3, etc)
I post series of ideas that correspond to a particular industry for example:
I have shared a lot of technology companies (too many technology companies)
I have shared several Basic Materials ...
MGM has completed a deep bearish crab and has also completed an internal bearish AB=CD pattern. With both patterns completing in the same zone, this is a good indication of momentum shifting to the downside.
Monthly view of MGM
Well I think in the long term view MGM can go to 57.80 and later on close to 92.33.
For 57.80 I am more confident because it's the high of the channel where the prices are.
For 92.33, maybe I'am crazy... but it's not impossible. What I can say is, lets go to 57.80 first, then we will se how prices react on this level.
Casino industry has shown good relative strength in recent weeks with WYNN & LVS recently making all-time highs.
MGM had to absorb the fallout from the Las Vegas massacre on 10/1/17 but now also has broken out to a new all-time high, confirming the rest of the group.
WYNN has the strongest RS, MGM the least.
LT Trend Higher
$MGM is looking to come out of its base that is has been consolidating for the past 6 months or so. Daily and Weekly both good look to continue the strong uptrend.
Long Term Trend Following and prediction
Still believe this one will turn around, even after getting stopped out on the first attempt.
Double or Triple top - Price has broken below resistance. I do not is any resistance until price hits $27.