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MGM RESORTS INTERNATIONALMGM RESORTS INTERNATIONALMGM RESORTS INTERNATIONAL

MGM RESORTS INTERNATIONAL

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MGM trade ideas

MGM Worth the BET? Not financial advice 1st thing that draws my attention is the resistance at 47.00 2nd thing I noticed is the move up the last 3 months back to 47.00 was a bearish move up as evidenced by the descending channel on Stoch RSI 3rd thing is we double topped on regular RSI even though we came up to 47.00 We have had 6 months of support at 33.00 range. This also represents staying above pre-covid crash levels. But some wonderful news. We have continually logged higher lows since the COVID crash will tells me momentum is trying to build up to eventually take out the 47.00 range. Clearly bears are in control so a wait and see approach could be justified. Especially if we lose the 33.00 level Always remember Patience is Key #PIK And to think like a whale #TLAW
NYSE:MGM
by ThinkLikeaWhaleTLAW
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 $1.73. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:MGMLong
by TopgOptions
Green Energy Investments Propel MGM Resorts (NYSE: MGM)MGM Resorts Riding the Bullish Wave MGM Resorts (MGM) is currently riding a bullish wave on the New York Stock Exchange (NYSE). The company's stock has surged in response to strategic moves towards sustainable practices and green energy investments. This shift has resonated with investors seeking environmentally conscious opportunities, propelling MGM to the forefront of ESG (Environmental, Social, and Governance) trends. Additionally, strong financial performance and the reopening of resorts and casinos post-pandemic have contributed to this bullish trend. Technical indicators, such as the Relative Strength Index (RSI) and Simple Moving Averages (SMA), confirm the upward momentum, suggesting that MGM's positive trajectory may continue in the near term.
NYSE:MGMLong
by DEXWireNews
MGM: Ascending Triangle, Not Confirmed (67,84%)(13/1000)(13/1000) Ascending Triangle for MGM. Confirmed. Possible 68% gains. Pros: 1- Bullish Ascending triangle 2- Descending volume during formation 3- PPS above 50MA and 200MA 4- R/R ratio above 5 5- 250RSI above 50 and climbing 6- 50MA above 200MA 7- 50MA and 200MA ascending. 8- RS above 0 and climbing 9- Golden cross circled in blue Cons: 1- Pattern not confirmed 2- ATR flat, less volatile Target price is 84,46$. Could reach as high as 95,95$ Again, stay humble, have fun, make money! MAAX!
NYSE:MGMLong
by LeLaf
1
MGM Recovery PlayNYSE:MGM Quantitative Analysis: - Earnings forecasted to grow and is above sector average - Forward P/E estimates on a premium to sector and is positive - MGM China outperform the market amid of industry recovery - Ease of travel restrictions to Macau boosted market gross gaming revenue Comments on Business - Current quarter benefited from the inclusion of the operating results of The Cosmopolitan of Las Vegas, which was acquired in May 2022 - In April 2023, the Japanese government officially certified the Area Development Plan previously submitted by the city/prefecture of Osaka and the Company's 50% owned unconsolidated venture KPI - Increase in casino revenues - Increase in revenue for rooms - Corporate expenses increased from the prior year quarter, due primarily to an increase in payroll expense - Net revenue increased compared to prior year quarter - Long-term net debt decreased from previous quarter Catalysts - New launches with BetMGM - Collaborations
NYSE:MGMLong
by syy891013
$MGM Heading for a Touchdown with the Help of the Charts!The $MGM market has gained attention due to the hype of the Super Bowl, but don't be swayed by the noise! The charts tell us that this market is on the rise, with resistance at $50 and strong support at $44. The charts never lie, and they say that $MGM is ready to make a big play. So, what did the charts say? They said: "Hold my beer, I got this!" Join us as we follow the $MGM market and see if it will score a touchdown with the help of the trusty charts. It's going to be a wild ride, but we're ready for the game! For Charts like mine Link in bio
NYSE:MGMLong
by ImmaculateTony