MGM Technical Analysis - MGM RESORTS INTERNATIONAL

Technical Rating and Analysis

Taking everything into account, MGM scores 0 out of 10 in our technical rating. MGM scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

83% of all other stocks performed better in the past year than MGM.

In the last month MGM has a been trading in the 34.10 - 38.18 range, which is quite wide. It is currently trading near the lows of this range.

MGM has an average volume of 4710520 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The long term trend is neutral, but the short term trend is negative. Better to stay away from this!

MGM is an average performer in the Hotels, Restaurants & Leisure industry, it outperforms 44% of 135 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

Although the technical rating is bad, MGM does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 34.47, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

33.62

40.77

2 important resistance areas can be observed.

A resistance zone ranging from 34.17 to 36.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 38.84 to 40.37. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Support and Resistance indicators

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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	17.77	NEGATIVE	MGM has a low relative strength, it was outperformed by 82.23% off all stocks 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	NEGATIVE	The current price of MGM is below a declining SMA(200).
Relative Strength Index/RSI (14)	43.61	NEUTRAL	The RSI value for MGM is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.03	NEGATIVE	The MACD value suggests MGM has a negative trend.
Stochastics (14,3)	21.79	NEUTRAL	The Stochastics value for MGM is a neutral value.
Average True Range in percent/ATR (20)	3.12	MEDIUM VOLATILITY	The ATR as a percentage value for MGM suggests some volalility.
Average Directional Index/ADX (14)	16.3	NEGATIVE	The low ADX value for MGM suggests a weak or negative trend.