MGM RESORTS INTERNATIONAL (MGM) Stock Technical Analysis
NYSE:MGM - New York Stock Exchange, Inc. - US5529531015 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to MGM. MGM has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
MGM is part of the Hotels, Restaurants & Leisure industry. There are 135 other stocks in this industry, of which 60% are performing better than MGM.
Both the short term and long term trends are positive. This is a very positive sign.
In the last month MGM has a been trading in the 31.48 - 38.87 range, which is quite wide. It is currently trading near the high of this range.
MGM has an average volume of 5115360 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
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 46% of all stocks.
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.
Although MGM has an excellent technical rating, it does not offer a high 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.
More info and screens
30.55
41.51
When analyzing the support we can see 2 important areas.
- A support zone ranging from 33.24 to 34.05. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @30.86 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 37.94 to 38.11. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Resistance @38.85 from a horizontal line in the daily time frame.
- Resistance @41.10 from a horizontal line in the daily time frame.
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 | UP | POSITIVE | The long term trend for MGM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGM is up. |
| ChartMill Relative Strength | 46.08 | NEUTRAL | MGM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGM is above the rising 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) | 66.1 | NEUTRAL | The RSI value for MGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.3 | POSITIVE | The MACD value suggests MGM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 93.08 | OVERBOUGHT | The high Stochastics value suggests MGM may be overbought. |
| Average True Range in percent/ATR (20) | 2.93 | MEDIUM VOLATILITY | The ATR as a percentage value for MGM suggests some volalility. |
| Average Directional Index/ADX (14) | 23.79 | NEUTRAL | The ADX value for MGM suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
37.93
-0.91 (-2.34%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryHotels, Restaurants & Leisure
Performance
% Chg-2.34%
1 Week0.9%
2 Weeks12.25%
1 Month14.14%
3 Month29.23%
6 Month19.01%
12 Month-17.74%
2 Year-25.29%
3 Year15.89%
5 Year135.74%
10 Year93.32%
15 Year249.26%
Volatility
ATR(14)0.99
ATR(20)%2.93%
ATR Inc6.47%
Range Today0.73
ADR(20)0.97
ADR(20)%2.55%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS46.08
Mansfield-0.06
10 Day High38.87
10 Day Low33.81
20 Day High38.87
20 Day Low31.49
52 Week High47.26
52 Week Low25.3
CS1 End34.05
CR1 Start37.94
Volume & EV
DER(3)-0.11%
DER(5)0.3%
Volume4.35M
Volume Incr-21.31%
Vol(5)4.01M
Vol(50)5.12M