MGM trade ideas
$MGM $20.00 short term target
Bullish rally looks set to continue as the economy begins to reopen
Indicators are bullish
$20.00 looks like the next big target with the 100 day moving average next major resistance
Mgm Resorts International Technical AnalysisPrices are moving inside a channel. Just hold and wait the right signal to go long for a long term investment.
Short term, there might be a possibility to go short.
It is still too risky to invest in the stocks/companies involved in the Hospitalities business.
$MGM - Where is the value?$MGM
Looking at MGM it has gained 215% since covid crash.
The high around $19 was instantly rejected a few days ago and we have seen prices fall again.
The the question remains.... "how much more value can you try and extract trying for higher highs right now?
You are still risking casino openings flop.
You are risking lock downs happening again.
You are risking casinos have to burn through cash due to lack of customers.
You are risking weekend 2nd week of rioting & protests on the strip. I didn't go back to my apt this weekend because of the protests, I'm certainly not going to drop a few grand in Vegas while cars n shit are burning outside the Luxor.....
Personally I believe the value and money to be had was 2 months ago. Not in an uncertain limbo phase. Id wait to buy above $21.50 at this point and keep a $14.50 stop loss if Im currently holding.
MGM Long into next monthI'm liking this one into next week, going to look for a strike a month out or so
$MGM ANALYSIS, Gap to fill then make new high.Mgm has been doing good, but has a gap that will need to be filled before it makes a new high.
Comment on what yall think
$MGM Wednesday trade setup
Next leg higher for MGM looks likely with the Fibonacci .5 level as a reasonable target
Price above support, possible long-For almost 21 days, price has closed above 13.3 and its currently above a trendlline and MA 50. A long term buy is possible if price closes above 15.00 (daily) Trade set up would become invalid if price closes below 12.95
Keep in mind that MGM wont open until july or august. That would clearly affect current and future price, Be careful, this not a trading advice, just my personal analysis.
MGM Short term bearish#Chart
MGM opening up slight down this morning after climbing 44% in the past 7 days. Support has broke on the 4 hour with the RSI rolling over and SMI about to break down again.
Will be watching for first lvl of resistance @ 15.62
MGM Resorts Technical AnalysisThe market seems to be bullish. Wait before buying as the prices might go down in a retracement wave.
MGM for the next 24%It was quite a journey for MGM through COVID-19. And we finally have some confirmations from RSI for the next move. The last time price challenged RSI 30, it made a nice pump up by 119%. On May 13, RSI 30 got an almost touch-down again, I name this next wave as a first FOMO wave after the first up wave. At the current time, the wave already jump up 31.53% and challenge the resistance. I believe that by the leading of SPY on the first half trading hour tomorrow, it will easily go over this resistance and challenge the next one as 55.77% at $18.24.
$MGM touching support line at $14.30.I'm optimistic for opening casinos. I think there is a lot of pain to be had here though. We will see how this holds up.
MGM - Divergence was corerct. How low will it go now?Hello Investors,
Last time I made a bold statement that probably was distasteful to read. However the divergence we looked at did work and MGM did drop, I'm happy about that turnout. I didn't make any money on the drop, but it tells me I'm in harmony with the market sentiment at the moment.
Looking at the current 200 MA (close), I think the price will gravitate towards the 200MA. I'm pondering the questions, "How low will it go before it goes back towards the 200MA?".
MGM is a CASINO, it will bounce back it just depends on locals and tourists going to the casinos. People love to gamble, if the casinos are still closed that means people can't go inside to spend money. MGM acting CEO stated that all USA MGM's were closed, Macau MGM(been there) is still open. MGM USA will stay closed until the state stay-at-home order is lifted.
"Nevada: Gov. Steve Sisolak said in a press conference on April 21 that there is no firm date when businesses will be allowed to reopen." (source: abcnews.go. com/US/list-states-stay-home-order-lifts/story?id=70317035)
I hope this was valuable. Please comment, like and follow, I would appreciate it.))
$MGM: Breakout and pullback is complete, ready to bounce Breakout and pullback is complete, ready to bounce, Target $19-20
$MGM approaching short term support at $15. Will it bounce?If it touches $15 and moves higher, I'm going long. If it moves through, I'll wait to buy near $13.70.
MGM: **Updated. Do you see the convergence? I made a mistake and forgot to draw in the convergence. I always use a Macd. I hope this makes the picture clearer. Refer to my other post for a detailed analysis of the price gap. Cheers.
