MGM Technical Analysis - MGM RESORTS INTERNATIONAL

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to MGM. MGM has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.

In the last month MGM has a been trading in the 34.35 - 40.16 range, which is quite wide. It is currently trading near the lows of this range.

MGM has an average volume of 4399930 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The short term trend is negative, the long term trend is neutral. Not much exciting going on here.

When comparing the performance of all stocks over the past year, MGM turns out to be only a medium performer in the overall market: it outperformed 40% of all stocks.

MGM is an average performer in the Hotels, Restaurants & Leisure industry, it outperforms 49% of 134 stocks in the same industry.

MGM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MGM is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MGM RESORTS INTERNATIONAL / MGM Weekly stock chart

MGM RESORTS INTERNATIONAL / MGM Daily stock chart

Setup Rating and Analysis

The technical rating of MGM is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

33.83

40.77

We found 1 important support area.

A support zone ranging from 34.17 to 34.17. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 3 important resistance areas.

A resistance zone ranging from 36.85 to 37.19. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 39.70 to 39.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @40.37 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The short term trend for MGM is down.
ChartMill Relative Strength	40.52	NEUTRAL	MGM is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MGM is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MGM is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of MGM is above a declining SMA(200).
Relative Strength Index/RSI (14)	34.46	NEUTRAL	The RSI value for MGM is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.43	NEGATIVE	The MACD value suggests MGM has a negative trend.
Stochastics (14,3)	2.44	OVERSOLD	The low Stochastics value suggests MGM may be oversold.
Average True Range in percent/ATR (20)	2.67	MEDIUM VOLATILITY	The ATR as a percentage value for MGM suggests some volalility.
Average Directional Index/ADX (14)	19.53	NEGATIVE	The low ADX value for MGM suggests a weak or negative trend.