MGM RESORTS INTERNATIONAL (MGM) Stock Technical Analysis
NYSE:MGM • US5529531015
Taking everything into account, MGM scores 4 out of 10 in our technical rating. MGM has been an average performer in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
- In the last month MGM has a been trading in the 33.22 - 39.25 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been consolidating recently, but much resistance may still be present above.
- MGM is part of the Hotels, Restaurants & Leisure industry. There are 125 other stocks in this industry. MGM outperforms 70% of them.
- MGM has an average volume of 4750770 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long and short term trends are both neutral. This gives a pretty neutral overall picture!
- When compared to the yearly performance of all other stocks, MGM outperforms 54% of them, which is more or less in line with the market.
- MGM is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MGM is lagging the market slightly.
Although the technical rating is only medium, MGM does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 36.75. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
30.40
We found 4 important support areas.
- Support @34.32 from a trend line in the weekly time frame.
- Support @33.77 from a trend line in the daily time frame.
- A support zone ranging from 31.27 to 31.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @30.71 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- Resistance @36.75 from a trend line in the weekly time frame.
- A resistance zone ranging from 37.44 to 37.68. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 38.79 to 38.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 39.70 to 39.81. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for MGM is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MGM is neutral. |
| ChartMill Relative Strength | 54.23 | NEUTRAL | MGM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MGM is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of MGM is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MGM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.77 | NEUTRAL | The RSI value for MGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests MGM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 57.21 | NEUTRAL | The Stochastics value for MGM is a neutral value. |
| Average True Range in percent/ATR (20) | 5.54 | HIGH VOLATILITY | The high ATR as a percentage value for MGM suggests high volalility. |
| Average Directional Index/ADX (14) | 13.45 | NEGATIVE | The low ADX value for MGM suggests a weak or negative trend. |
35.85
+0.13 (+0.36%)
MGM RESORTS INTERNATIONAL / MGM FAQ
What is the technical rating for MGM stock?
ChartMill assigns a technical rating of 4 / 10 to MGM.
Can you provide the trend direction for MGM RESORTS INTERNATIONAL?
The current trend direction for MGM RESORTS INTERNATIONAL (MGM) is Bearish.
Can you provide the RSI signal for MGM RESORTS INTERNATIONAL?
MGM RESORTS INTERNATIONAL (MGM) has an RSI value of 50.7658. This indicates that the stock is currently neutral.
What is the short term momentum for MGM RESORTS INTERNATIONAL (MGM) stock?
The short term momentum for MGM RESORTS INTERNATIONAL (MGM) is neutral.
What are the support and resistance levels for MGM RESORTS INTERNATIONAL (MGM) stock?
MGM RESORTS INTERNATIONAL (MGM) has a support level at 34.32 and a resistance level at 36.75. Check the full technical report for our detailed analysis of MGM support and resistance levels.