I'm waiting for a pullback, so I've set a buy limit order at the bottom of the long trend channel @ MGM. Technical support: 36.6 + arriving MA(200). Fundamental support: The governor of Nevada said the casinos and hotels are gonna open on 1th June. Target price is 44.5 USD.
Price broke out the downtrend flag. Price then broke the previous resistance. Looking for some type of pullback!
All praise be to the market gawds!
Continue the flow of great measures!
This week been a helluva rollercoaster and I don't plan on leaving this theme park anytime soon!
My mask has been found. I got something to wear for market open Friday....Let's grind!
MGM should benefit with the cycle into reopen stocks, Johnson and Johnson news and also stimulus
In a the beginning of a strong uptrend(yellow channel). even with the mass sell of on Thursday and Friday MGM still held its channel which aligns with its fib at 36.70.
I'll be swinging this to its channel top or mid 40's, which ever one comes first.
Stop loss at...
MGM Resorts International (MGM) has announced that 24/7 hotel operations will resume at three of its Las Vegas properties — Mandalay Bay, Park MGM and The Mirage on March 3rd. The three properties had previously been operating with selective midweek closures as a result of lower business volumes due to the COVID-19 pandemic. As part of the reopening, MGM Resorts...
MGM has had an impressive rally last month with the rotation into value. We have a rising wedge formed and despite making higher highs, our indicators are making lower highs, indicating a disconnect and thus a bear divergence. When we break the rising wedge, I expect a decline, entering short and an additional short in the case of a retest of the lower boundary...
#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.
Just as fast as the news of COVID vaccine may have rallied the market this past week, the effects may be short lived as they were in the past when the realization that we still are a minimum of 6-12 months away from anything remotely resembling a normal society. With that said, companies like MGM will likely see another dump of their stock when investors realize...
