MGM bull put spreadIF this trade does not work, one Real life trader will get a weekend at the MGM on me
;-)
MGM trade ideas
MGM - Bull ContinuationBull continuation can be seen following a downward period, this allows a comparison between two separate rising wedge / ascending triangle points
Following this rising wedge a larger bull move is observed, this is what we are awaiting currently for the second situation
$MGM with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $MGM after a Negative Under reaction following its earnings release placing the stock in drift B.
MGM SHS - tracking welltracking MGM - head and shoulders - potential either way, but trend avg calling to be retested
Bias more on downside7th May 2022
Revisit MGM after 1month.
Volume seem like picking up while price dropping.
Once $38 give way, we shall see 35 follow by 30 (depend on overall market sentiment)
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Bias more on downsideResisted by 78% Fibo with shooting star candle.
Bias on downside.
1st minor support at $35, break below will see $30 at next support level at 50% Fibo
double top pattern ⁇mgm potential double top off local resistance here, also at RSI resistance levels. If it fails to break above 51 my next targets are 46.53-44.74-42.89
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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 $51.20.
Looking forward to read your opinion about it!
consolidation mode, I'm neutral here!↘︎🌹mgm entered this trading range on Feb 5 2021, range support is 33.5-36, range resistance zone is 43.5-46.
considering its been stuck in this range for close to year, I wouldn't be surprised if we saw another year of the same price action.
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MGM! This is the perfect finish to wave 1 before it starts it true parobolic trend …typically you see a solid uptrend, a trend break, drop backtest of trend causing an ABC after rejection of trend. As long as you hold 34$ low then bounce we are in a wave 1 headed to wave 3. If we pop here and break 44$ Come back to 37$area then that will start wave 5
Waiting for these senerios both are bullish, but if we dip to 34s from here it means a lot more room to run for MGm
long MGMHit key support level
todays price closed right on the anchored vwap from local low
TD sequential counter hit buy 9 signal
RSI cross up from oversold, trending up
CCI putting in lower low and starting to trend up crossing the oversold level
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
MGM Resorts Has Pulled BackMGM Resorts recently hit a new 13-year high, and now it’s pulled back.
The main feature on today’s chart is the breakout above $45.10 in early October. It proceeded all the way past $50 (for the first time since 2008) before knifing back to retest the breakout level.
Next, the current price area is near the 50-day simple moving average (SMA).
Third, the recent pullback has dragged the casino stock all the way back down to the bottom of its Keltner Channel. Finally, the dip pulled stochastics down to their most oversold condition since March 2020.
The news flow has additionally turned more positive as travel resumes. Credit Suisse triggered the initial surge with an upgrade on October 12, followed by strong quarterly results on November 3.
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MGM broke trend before earningsgoing to pick up some december puts - expecting at least a $3 drop
MGM doesn't have a PE right now and at ATHs
MGM : CMP 48Stock is in correction on a monthly Timeframe from 2007....stock expected to complete correction soon...if stock breakout of price 51 then stock may see levels of 93 in next one year...with SL 35..
Possible Continuation TomorrowTodays consolidation candle was a healthy consolidation, might be forming a 3-4 bar play possibility. Will be keeping an eye out for entry at the bounce of the red candle low or at the break of ATH.
Cup and HandleAs a rule their will be resistance at long entry level. Bearish harami at this moment. This daily candle can change by close.
The bearish Harami reversal is recognized if:
The first candle is long and bullish and continues the uptrend;
The second candle is short and its body is completely engulfed by the first candle's body. A third red candle day would form a 3 inside down pattern which is confirmation of the harami 2 candle pattern.
Mid cup is 40.50 and the cup low is 35.72. Cup depth is 9.62.
No recommendation
MGMOption 1. Local 5th wave is part of the greater third and expended flat to b wave will be formed with targets at 1.236-1.382 FIBO. after that we go down and complete the fifth, after which the third wave will be completed and there will be a long 4ka in the sideways.
Option 2. We have only reached the local 3, an abc correction has already taken place (you can see the three). Then the fifth local one awaits us, and then everything is the same as in the first version.
Possible targets are marked in red. You can safely enter above the beige line, but it's up to you where to enter. Level 43 is also important. because this is where the Fibonacci level passes, which acts as resistance after the fall in 2008.
Rates can go up, the beginning of sports competitions in the United States, in particular NHL, NFL NCAA
