MGM Stock – MGM Resorts International (MGM): price Now Near $40.87; Daily Chart Shows An Uptrend on 100 Day Basis
The Hourly View for MGM
At the time of this writing, MGM (Get Ratings)’s price is up $0.09 (0.22%) from the hour prior. MGM has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Out of Restaraunts Hotels Motels stocks, MGM ranks 27th in regards to today’s price percentage change.
MGM’s Technical Outlook on the Daily Chart
Currently, MGM’s price is down $-0.5 (-1.21%) from the day prior. MGM has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, so that price is now turning below it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows MGM’s price action over the past 90 days.
For MGM News Traders
News traders keeping an eye on MGM may find value in this recent story:
Why IAC’s CEO Sees MGM Resorts as a ‘Phenomenal Business’
IAC took a stake in MGM Resorts because executives felt confident the hospitality company could survive the pandemic and that tourism would bounce back, IAC CEO Joey Levin says.
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