MGM trade ideas
MGM: Stalking for a break to the upsideLooking for a break to the upside with volume. Scoop on dips with a tight leash.
#MGM is a Solid Bet#MGM has been forming a nice bullish wedge, and today broke out of that formation to the upside. We entered a position after a healthy bump up off the 50% line on the 4hr RSI chart, MGM has plenty of room to make its way towards the $24 target and beyond. Positive earnings from partner casinos is contributing to the positive direction of MGM’s stock.
$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
See you all at 14s Nevada will shut down again. Covid-19 is in play still. Nevada Gov. tests positive. Five states announced new coronavirus-related restrictions Friday.
MGM SHort fill in the gap and fundamentals - Corona NewsEnjoy the ride down.. Traders bought the news about pfizer and did not read in btween th elines.. Until Pfizer delivers Corona is full in effect.
Cup and Handle Ascending TriangleIntra-year C&H
Break out from a yearly cup and handle would be 34.7
Also an ascending triangle with upper trendline at 24.17
Ascending triangles do fail (bust) but are bullish in nature
Possible stop below 19.2
Not a recommendation
MGM coiling...Looking really good soon, been waiting for the right moment, maybe the next few days is the time to get in
MGM to Long, Trendline BreakIn Uptrend,
At bottom of consolidation,
trendline break,
Entry 21.5
Stop: 20
Target: 31; reward:risk=6:1
Earning 10/29/2020 4 PM
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
Mgm bounce trademgm will fall 8 percent then test the top of the ascending triangle again. Looking at rsi and macd, there is falling possibility.
MGM Resorts V Jets Etf
MGM has tracked the airlines almost perfectly since the march lows and with more
hope today on stimulus the roller-coaster ride looks set to continue.
Alert is set for break above the 20MA @ $22.30
with the possibility of a long to $24.00 in the short term.
A golden cross has just been complete which adds to the Bull case.
Cup and HandleNo rising wedges noted. Intra year C&H pattern. Price would need to break 34.64 for a yearly cup and handle pattern
Also a 3 year high at 38.41 and 20 year high 100.5
Old resistance levels usually come back to bite you no matter how old they are. So always look at the whole table before you take a shot
S noted at 20.5ish/Gaps provide support when price is over them and R when price is below them
NV increasing
Be safe
Not a recommendation
$MGM 4 Month #CupandHandle #ChartPatternImpressive relative strength on a casino stock! Keep an eye out for breakout trade.
MGM Good Spot to SHORT 19.4 coming.MGM just made a fake out and ended in the negative territory in the last trading session, the 20SMA has cross 50SMA, Trend-lines are broken and is now making a downward leap, here on keep a TAKE PROFIT at 19.4/19/18.5 and keep a STOP LOSS at 22.5| Market Mood: Bearish | Hospitality, Entertainment, Hotels Sector: Very Bearish |
Possible MGM breakoutMGM has been consolidating since their latest earnings run with declining volume. Looking for this to breakout above $24.
MGM Clearly Bullish, Get In Before Labor Day!MGM's growth has been fenominal through the past month as it climbed to new record highs. We seem to be hitting a respectful resistance, but now we have a even more respectul consolidation. I cant see MGM retesting another other supply levels in the future, as these next few days will look good for vegas, and especially the ballagio! People from all across the west are booking rooms for labor day as they are confirmed "Travel safe during COVID-19" (Trip Advisor). This is an extremely undervalued stock and I have high expectation for the upcoming week.
