MGM bullish 48.52 incoming 🚀MGM building a nice bullflag on daily and weekly and ready for a breakout probably this week...TP weekly 48.52 🚀🚀🚀
MGM trade ideas
FOOTBALL SEASON $MGMFootball season is here! NFL and NCAA football bring in the most volume/revenue for the books.
I used the BARS PATTERN tool and captured the 2020-2021 season (August 5th- Feb 8th) then moved it over to the upcoming season. There's are a ton of different factors that effect price action
but I think this is a nice start to charting out the season.
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.
Strong setup, weak market conditionIt looks like; we have some ascending triangle patterns however, I have some concerns.
We had a big red candle, after the earnings announcements.
I am planning to wait for a smaller pullback, if we manage to hold that 41.14 level (which is very important), then I will go long.
MGM ready to move upSelf-explanatory wedge, MGM is ready to move up the resistance line around $42.35. TP at $55
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
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MGMMission Statement
Over the course of the last decade, MGM Resorts has engaged in a sweeping transformation, building a new Company on an entirely new trajectory and forging a single, unified vision about who we are and what we do.
Our Las Vegas roots are a proud part of our history and a signature element of everything we create, wherever we may go. In our eyes, entertainment is not extracurricular – it’s a fundamental human need. Therefore, we exist to ENTERTAIN THE HUMAN RACE.
Recent News:
1. DETROIT, March 31, 2021 /PRNewswire/ -- The Detroit Tigers announced today that BetMGM, a leading sports betting and digital gaming operator, has become an official gaming partner under the terms of a multi-year sponsorship agreement. Highlights of the sponsorship in the gaming category include BetMGM branding on scoreboards throughout Comerica Park, fan-focused promotions, integrated social media content, and more.
2. JERSEY CITY, N.J., March 30, 2021 /PRNewswire/ -- BetMGM announced today a multi-year deal with Audacy, formerly Entercom Communications Corp., (NYSE: ETM), designating the market-leading sports betting and gaming platform as a preferred sports betting partner of Audacy across its best-in-class sports broadcast stations, the Audacy and Bet QL apps and digital platforms, and the "BetQL Audio Network." Key partnership details include integrated content across Audacy's broadcast sports stations, customer acquisition opportunities, and talent endorsements across Audacy's wide spectrum of local and national sports betting content.
3. Prior to LPL Financial, Mochal held senior communications positions at McDonald's, ConAgra Foods and Hardee's. At McDonald's, he helped create and lead U.S. and global public relations strategies for the Olympics, FIFA World Cup, Ronald McDonald, Happy Meals, and the "I'm Lovin' It!" campaign.
4. JERSEY CITY, N.J., March 22, 2021 /PRNewswire/ -- BetMGM today announced the launch of BetMGM Poker in Michigan, giving customers access to benefits tied to MGM Grand Detroit and MGM Resorts' casino-resorts nationwide. Michigan joins New Jersey as the second state in the U.S. to introduce BetMGM Poker, the company's primary online poker offering powered by partypoker US network. This news follows the January launch of BetMGM's online sports betting and casino offerings in Michigan.
5.JERSEY CITY, N.J., March 15, 2021 /PRNewswire/ -- BetMGM announced today the signing of Jalen Rose as a celebrity brand ambassador. The Michigan basketball legend and award-winning analyst will be featured in BetMGM's upcoming marketing campaigns and participate in a variety of BetMGM fan events.
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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 Down Goes Frazier!Price broke out the downtrend flag. Price then broke the previous resistance. Looking for some type of pullback!
All praise be to the market gawds!
Continue the flow of great measures!
This week been a helluva rollercoaster and I don't plan on leaving this theme park anytime soon!
My mask has been found. I got something to wear for market open Friday....Let's grind!
MGM swing trade MGM should benefit with the cycle into reopen stocks, Johnson and Johnson news and also stimulus
In a the beginning of a strong uptrend(yellow channel). even with the mass sell of on Thursday and Friday MGM still held its channel which aligns with its fib at 36.70.
I'll be swinging this to its channel top or mid 40's, which ever one comes first.
Stop loss at 35.29 (redline)
targets are green lines
MGM hits 52 week high amidst this week re-opening trades trendMGM Resorts International (MGM) has announced that 24/7 hotel operations will resume at three of its Las Vegas properties — Mandalay Bay, Park MGM and The Mirage on March 3rd. The three properties had previously been operating with selective midweek closures as a result of lower business volumes due to the COVID-19 pandemic. As part of the reopening, MGM Resorts will enact what it dubbed a "Seven-Point Safety Plan" to ensure health protocols are met. These will include a mandate for employees and guests to wear masks, a physical distancing policy, standalone handwashing stations, contactless check-in through the MGM Resorts app and digital menus available on personal mobile devices. The company added that several of its live entertainment shows will return to the stage. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
