#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.
Note
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
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.