$DKNG Short-term Bullish, Daily TimeframeHey what's up ya'll! I hope you guys are doing well. There are many companies that are reporting earnings this week ( NASDAQ:DKNG is reporting next week Thursday, Nov 7).
I'm still debating whether or not to hold contract passed earnings since it may cause a drop and I would rather exit then to hold. If I'm up at least 15% on the contract I'll put a trailing stop loss.
Contract purchased:
- 17 JAN 25 40c (down -5%)
Entry Price:
- $37.22 @ 3:34pm
Rationale for contract:
- Price appears to have hit a support around $36 (previous resistance)
- Price hit the all-time 0.618 bullish Fibonacci
- MACD curling up; blue line approaching the orange line that indicates bullishness
- RSI @ 46; near the medium line of 50
Conclusion:
If price goes below the previous weekly low at $36, I'll cut.
If price hits $41 before earnings, I'll sell or put a 5% trailing stop loss.
Mgmresorts
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.
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.
Green Energy Investments Propel MGM Resorts (NYSE: MGM)MGM Resorts Riding the Bullish Wave
MGM Resorts (MGM) is currently riding a bullish wave on the New York Stock Exchange (NYSE). The company's stock has surged in response to strategic moves towards sustainable practices and green energy investments. This shift has resonated with investors seeking environmentally conscious opportunities, propelling MGM to the forefront of ESG (Environmental, Social, and Governance) trends. Additionally, strong financial performance and the reopening of resorts and casinos post-pandemic have contributed to this bullish trend. Technical indicators, such as the Relative Strength Index (RSI) and Simple Moving Averages (SMA), confirm the upward momentum, suggesting that MGM's positive trajectory may continue in the near term.
MGM Bet is on this one breaking 52-week highsCasinos are rolling, China reopening, lots of high rollers with pent up demand. MGM price action looks great. Watch for this one to break through it's 52 week highs around 45-46, this chart leaves room for MGM to run plenty if it can break through that resistance
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!
Scenario: buyback at the bottom of the long trend channel @ MGMI'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.
MGM Rising Wedge + Bear Divergence on RSI, MACD and MomentumMGM 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 following the breakdown. The stock is also overbought in 1D.
$MGM Potential Short OpportunityJust 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 that lockdown may inevitably have to happen again in order to slow the burden of the hospital systems this winter. Oddly enough, coinciding this news is the major pivot point for the S&P500 along with a major uptick in COVID lockdown news. This week will give us a good idea of what will happen next.
Note: This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation
MGM Resorts International 100% upside potentialGreat news!
Aug 11 Reuters:
BRIEF-NASCAR And BetMGM Announce Multi-Year Sports Betting Partnership
BETMGM TO OFFER LIVE, IN-RACE BETTING BEGINNING IN 2021
Aug 10 (Reuters) - Barry Diller's IAC/InterActive Corp IAC said on Monday it has bought a 12% stake in MGM Resorts International MGM for about $1 billion, sending the casino operator's shares soaring 14%.
"MGM presented a "once in a decade" opportunity for IAC to own a meaningful piece of a preeminent brand in a large category with great potential to move online."
Market Capitalization $10.42 billion
Net Income $2.05 billion
small 5.56 P/E ratio
If you are interested to test some amazing BUY and SELL INDICATORS, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
MGM ✅ Why Go To Vegas When You Can Speculate On MGM From Home!💬 MGM International Resorts (MGM) is rolling out its new 'Viva Las Office' campaign to get people to work from Vegas. That could help drive business to MGM properties, which could be why the market is showing us some bullish options flow and decent price action. While we are skeptical this single event makes a giant impact, we think all these factors together (along with the recent earnings beat) are enough for a conservative swing play. Let's see if we can find a setup that works.
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Support:
S1: Our entry is going to be off the minor price pivot point, a current S/R flip, and previous orderblock cluster range. The logic is that we retest this level before moving up. Meanwhile, we are placing our stop below the S/R flip to give us a solid 1:5 Risk-to-Reward that keeps us well away from any short term downside volatility that might be seen as the price is finding support.
Resistance:
R1: Our target is the orderblock at the previous swing high as highlighted on the chart.
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Summary:
We have a pretty straightforward setup here. Retest the S/R filp, and then go long until the next resistance level is hit while keeping a comfortably placed stop well below support to mitigate risk... its a gamble with good odds, and we didn't even have to leave the office to do it.
Resources:
finance.yahoo.com
www.marketbeat.com
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
Sell Short: Golden Entertainment - Resorts CasinosSell Short: Golden Entertainment Inc - Ticker: GDEN - Sector: Consumer Cyclical Industry: Resorts & Casinos
Go to the Invest2Success Advisory Page and Also for USA Asia Financial Forecasts
Sell Entry: 11.33 to 8.30
Stop-Loss: Available to Subscribers
Take Profit Price Targets: Available to Subscribers
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MGM - MGM Resorts International BUY investment opportunityHello traders,
Description of the analysis:
MGM Resorts International investment opportunity. I already invest to this stock with big potencial. I bought 462 pcs of shares. Trade what you understand, trade carefully and sparingly according to the business plan. This is not investment recommendation.
About me:
Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund ($4.000.000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades.
Jacob
MGM Resorts Technical AnalysisThe idea is to go long.
MGM Resorts (MGM) – MGM will reopen more Las Vegas casinos, following strong performances for the Bellagio, MGM Grand, and New York New York following their reopenings. The Excalibur will open Thursday, followed by ARIA, Mandalay Bay and Four Seasons Las Vegas on July 1.
Bullish Weekly ChartDaily & Weekly charts look great, especially the weekly chart.
Volume is Bullish
PMO is Bullish
MACD is Bullish
Stochastic is Bullish
Sector is Bullish
Long!
DISCLAIMER
The Content herein is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Possible MGM Long IdeaI am thinking this thing is poised to breakout with states reopening, and their casinos already being sold out for the month. It is already breaking resistance and I think it could hit one of these targets and possibly re visit all time highs.
This is mainly based off momentum, elliot waves, and fibonacci targets and retracements. What do you think of this? I am fairly new to this so any advice is appreciated.
Mgm Resorts International Technical AnalysisPrices are moving inside a channel. Just hold and wait the right signal to go long for a long term investment.
Short term, there might be a possibility to go short.
It is still too risky to invest in the stocks/companies involved in the Hospitalities business.