$MGM cup and handle breakout$MGM is running in a textbook cup and handle breakout. Should we hold above 24.00, we could see a first PT of 26/26.50 and above that would be 29/29.50
MGM trade ideas
$MGM Resorts Bullish Targets
Potential Targets for today if market rotation
into the beaten down sectors continues.
$23.97 is the previous pivot point from the April rally,
a move above would be a big win for bulls.
$24.58 is strong Fibonacci resistance.
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The MGM RESORTS INTERNATIONAL DailyHey investors, MGM RESORTS INTERNATIONAL is in a fake bearish movement with a low sales volume we note a rejection of buyers on MULTI TIMEFRAME 30 15 5 Min. We see a drop in price but it is for a reversal to come to the level of the last next lower. Target is on the last previous higher and if the buyers push the prices they can get to the higher after.
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MGM possible Cup and Handle (months in the making)? Two month cup and handle spotted for MGM.
RSI ready for a possible uptrend reversal.
MACD still needs a golden cross.
Note: A break out on the descending upper trend line of the handle is needed for confirmation.
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.
Symmetric Triangle ABC Bullish Falling WedgeHas broken upper trendline of S Triangle and the Falling wedge. EMPTY GAP under price but appears to be filling today
I listed targets for each. I did not list targets for a the ABC pattern as they are contained in the other 2 targets.
Multiple bullish patterns. A S triangle can go either way. So far this one broke up
A falling wedge at the bottom is usually bullish
A rising wedge at the top is often bearish.
Not a recommendation
Good luck!
MGM technical analysispoint 5:target ---27.50
resistance---27.72
point A:support---20.82
point B:target---32.93
resistance---33.43
point C:support---27.40
MGM Resorts Based on Technical Analysis the idea is to hold - Prices are moving inside the channel - no trend
Prices might go down to the bottom channel line or can brake the top resistance line.
It is too risky to go short at the moment - no enough signals.
$MGM Week of Aug 10th 2020Is $MGM creeping up on a little Bull Run? Looks like a small up-trend brewing. It's def moved well above the the 30-50 mark line.
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! ✨
$MGM Resorts Int Bullish Analysis
Stock has made a higher high on todays close.
RSI has managed to make a new high.
MACD & Histogram bullish.
Confluence of Fibonacci levels @ $20.00
as a suitable price target.
Volume is in strong uptrend.
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MGM earnings doneWith earnings behind us, taking another flyer on MGM. the play is in the value of the BetMGM app side to create value in the absence of onsite gambling.
MGM - Earnings PlayEntry 16.15 - 16.75
1st Target - 17.61 (sell 20%)
2nd Target - 18.82 (sell 50%)
3rd Target - 19.76 or upper trend line
Stop Loss - 15.35
MGM is international... Macau MGM is 99% down. Why bet?No one is betting in Macau, the biggest easiest money for casino/hotel industry.
Lockdown is still forbidding people to spend money in Macau/Macao.
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Possible short entry RSI at a key decision point. I would manage risk at green downtrend resistance. Target price is 12 dollars. MGM has been showing relative weakness the last month as market has gone up.
MGM also 10/20 crossoverBeen watching this already, but today it actually had the 10 day/20 day crossover. Going to go think about same week or two months out.
