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MGM

MGM Resorts draws increased institutional investmentMGM Resorts International (NYSE: MGM), a prominent operator of global casino resorts, has seen a notable influx of investments from major institutional firms in recent months. The company's robust revenue growth and promising expansion into new markets fuelled the growing interest from investors. Key growth highlights include MGM China's significant 71% year-over-year revenue increase, primarily driven by its operations in Macau. MGM Resorts International's venture into the online and mobile betting market through BetMGM, a joint initiative with UK-based Entain, has also shown impressive growth. In 2023, BetMGM's revenue surged by 36% year-on-year, nearing 2 billion USD. The anticipated development of a resort in Japan is expected to catalyse MGM's growth further, making it an attractive prospect for investors looking for dynamic growth in the hospitality and gaming sectors. Technical analysis of MGM Resorts International (NYSE: MGM) Exploring potential trading opportunities based on the current technical setup of MGM Resorts' stock: Timeframe : Daily (D1) Current trend : the stock is currently in a global uptrend Resistance level : 47.00 USD Support level : 42.60 USD Potential downtrend target : if the stock enters a downtrend, a possible target could be set at 37.50 USD Short-term target : if the uptrend continues and the stock breaks through resistance at 47.00 USD, a short-term target could be set at 51.00 USD Medium-term target : With sustained upward momentum, the price might aim for 56.50 USD Investors should keep a close watch on MGM Resorts International, especially in light of the increasing institutional interest and the company's strategic expansion efforts. The stock's performance, combined with the company's operational growth, could present considerable opportunities for market participants. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
NYSE:MGM
by RoboMarkets
Two Signals For MGM Provide Rollercoaster ActionI had two trading signal trigger for MGM last week that could set the stage for some good up and down trading. My MACD overtraded signal fired on the daily chart on January 31, 2023 indicating the stock should move down over the next 10 trading days. This signal is accurate 94.297% of the 264 studied occurrences. There is a delay to the downside action that occurs during 3% of the successes. This means the stock moves upward before reversing course and obeying the signal's projected movement. The delay area for this specific signal is the white box on my chart above. The target box for the bearish movement is the larger green box to the downside. On February 2, the closing price created a bullish signal based on my multi-timeframe indicator. This bullish signal indicates MGM will likely move to the upside in the next 10 and 25 trading bars. However, this indicate has a high delay rate at 62.791% over 10 days and 73.256% over 25 days. This means the stock moves down first prior to moving up. The typical delay area for this signal is the yellow box which overlaps the white and green boxes. I have also placed the likely bullish target box as the lighter blue outlined one. We can use the delay box for the second signal to shrink the possible target area for the bearish signal. The overlap of the yellow box in the green likely indicates future downward movement will likely occur between 5 and 12 February with a bottom between 42.00-43.24. Once this bottom is in, the stock may then move upward to the bullish target box which begins around 46.63. This could provide an interesting trading setup if we buy on this dip. As far as movement once or if we hit the bullish target box? There is a key resistance line (the dotted magenta line) around 51.17 which stood strong since November 2021. It was broken through to a new all-time high on July 31, 2023 up to 51.35, however, the stock has never closed above 50.77. We will see what happens with this ceiling. My modified wave theory does have this stock nearing a top for now, however it remains to be seen.
NYSE:MGMLong
by StockSignaler
3
MGM Resorts International Options Ahead of EarningsIf you haven`t bought MGM during the Covid pandemic: Then analyzing the options chain and the chart patterns of MGM Resorts International prior to the earnings report this week, I would consider purchasing the 39usd strike price Calls with an expiration date of 2023-12-15, for a premium of approximately $1.73. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:MGMLong
by TopgOptions
Trade Idea: VICIVici properties is showing weakening in its trend. This has been directly tied to the weakness in XLRE - real estate We believe VICI properties has much more downside. This specific Real estate play also has much property exposure to the casino type names. With many of the Casino charts like MGM, LVS looking "topheavy" this may be a correlated play that already has headwinds from the weakening in real estate. If the economy weakens to a degree the consumer discretionary stocks should also be hit.
NYSE:VICI
by Trading-Capital
MGM Q4 earnings and revenue exceeded analyst expectationsThis stock has more than doubled since my first call: and now the American Gaming Association estimates that $7.6 billion will be spent in wagers on this year`s Super Bowl! That`s 78% higher than 2021. The record breaking year could mean a record price for MGM stock as well, now that MGM Resorts International is seeking more international exposure as well. MGM Q4 2021 Earnings: Adjusted EPS $0.12 vs $0.02 expected Revenue $3.1B vs $2.8B expected Las Vegas Room Occupancy Rate 86.0% vs 82.4% expected My price target is a double top at $51.20. Looking forward to read your opinion about it!
NYSE:MGMLong
by TopgOptions
MGM long off 50 ma. Breaking DECADE long resistance hereSo I want to sell my house and put it all into MGM. We are breaking MULTI-DECADE resistance here! On the monthly chart, we haven't seen these levels since 2008. On a weekly chart, we broke over major resistance last month and have continued higher. Just off our relative highs, we didn't quite make it to the 1.618 extension. This pullback to the 50 ma and touch of the trendline from the summer into fall following earnings is an opportunity to get in long to take it up to $56. That being said, I need to practice prudence because on the daily, we can see that we are hovering just below resistance. I really want to see a daily closure over $46 today. The only thing that I am noting is that on the daily, we are close to having the 100 and 200 sma's catching up and perhaps we want to retest? The 100 sma happens to be sitting right at the halfback off of this latest fib extension impulse wave drawn. I am long as of this afternoon with a stop under yesterdays low. If we break below that, I will anticipate touching the 100/200 smas, but at least the 100 sma and would like to try to get long again there pending price action. Also have an alert set for the 100 sma now as I would like to get more of this in my retirement. I grabbed some in spring 2020, but would like to add to that long-term hold. **MGM long** Entry: $45.95 Stop: $45.45 1st target for 25%: $48 2nd target: $57
NYSE:MGMLong
by nurseblood
DRAFTKINGS [Breakout]DKNG crossed the creek of a persistent downward sloping supply line today after breaking above the .236 fibonacci level of the retracement shown on the chart. Anything above $48 is bullish and now that you have a decisive looking candle breaking out of the trendline on the daily, that only adds as further validation. The price is in the middle of our .236 to .382 fibonacci range, but there are local support levels that could be used as entry areas. For instance today we closed above $50.58, an area that corresponds with a 50% retracement of this range. Support above a 50% retracement is often bullish and could make for an entry for a long but keep in mind your lowest risk area will always be at the macro lower support which in this case would be at $48.06 (.236 fib level).
NASDAQ:DKNGLong
by TradeVibez
8
PENN Retesting $85 Soon?Penn National Gaming has quietly been gaining momentum during July after a massive fall in price since earlier this year. If we do a fib retracement from the swing high at $85 to its swing low at our bottom which is $63, we get a potential trade setup currently at the $71.84 price level. This $71 area is where the .382 fib level is, historically a great buy area mathematically speaking. Depending on the open in the morning I plan on going long with a stop just below $71.84. The key is that the $71.84 price holds. If a 4 hour candle closes below that, a retest of $68 will be in the cards which is my next and final buy area where a large position may be entered.
NASDAQ:PENNLong
by TradeVibez