MGM RESORTS INTERNATIONAL (MGM) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MGM - US5529531015 - Common Stock
We assign a technical rating of 8 out of 10 to MGM. Although MGM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, MGM also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 36.36, a Stop Loss order could be placed below this zone.
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30.55
We found 5 important support areas.
- A support zone ranging from 37.08 to 37.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 36.19 to 36.36. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @33.08 from a trend line in the weekly time frame.
- Support @31.49 from a trend line in the daily time frame.
- Strong support @30.86 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @37.96 from a trend line in the weekly time frame.
- 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 | 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 | 57.95 | 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) | 61.59 | NEUTRAL | The RSI value for MGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MGM has a negative trend. |
| Stochastics (14,3) | 69.61 | NEUTRAL | The Stochastics value for MGM is a neutral value. |
| Average True Range in percent/ATR (20) | 2.42 | MEDIUM VOLATILITY | The ATR as a percentage value for MGM suggests some volalility. |
| Average Directional Index/ADX (14) | 27.68 | POSITIVE | The high ADX value value for MGM suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 37.17 | 36.18 | 0.99 (2.66%) | 25.00% |
| An entry @37.17. This is a Buy Stop order right above the resistance zone. | An exit @36.18. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.99 points, which is 2.66%. | For a 0.67% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MGM. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
37.68
+0.59 (+1.59%)
MGM RESORTS INTERNATIONAL / MGM FAQ
What is the ChartMill technical rating of MGM RESORTS INTERNATIONAL (MGM) stock?
ChartMill assigns a technical rating of 8 / 10 to MGM.
What is the trend direction for MGM stock?
The current trend direction for MGM RESORTS INTERNATIONAL (MGM) is Bullish.
What is the RSI signal for MGM stock?
MGM RESORTS INTERNATIONAL (MGM) has an RSI value of 61.5935. This indicates that the stock is currently neutral.
Can you provide the short term momentum for MGM RESORTS INTERNATIONAL?
The short term momentum for MGM RESORTS INTERNATIONAL (MGM) is positive.
What is the buy/sell signal for MGM stock?
The buy/sell signal for MGM RESORTS INTERNATIONAL (MGM) is buy as both the short term and long term trends are positive.