Bull continuation can be seen following a downward period, this allows a comparison between two separate rising wedge / ascending triangle points
Following this rising wedge a larger bull move is observed, this is what we are awaiting currently for the second situation
7th May 2022
Revisit MGM after 1month.
Volume seem like picking up while price dropping.
Once $38 give way, we shall see 35 follow by 30 (depend on overall market sentiment)
mgm potential double top off local resistance here, also at RSI resistance levels. If it fails to break above 51 my next targets are 46.53-44.74-42.89
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This stock has more than doubled since my first call:
and now the American Gaming Association estimates that $7.6 billion will be spent in wagers on this year`s Super Bowl!
That`s 78% higher than 2021.
The record breaking year could mean a record price for MGM stock as well, now that MGM Resorts International is seeking more international exposure as well.
MGM...
mgm entered this trading range on Feb 5 2021, range support is 33.5-36, range resistance zone is 43.5-46.
considering its been stuck in this range for close to year, I wouldn't be surprised if we saw another year of the same price action.
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This is the perfect finish to wave 1 before it starts it true parobolic trend …typically you see a solid uptrend, a trend break, drop backtest of trend causing an ABC after rejection of trend. As long as you hold 34$ low then bounce we are in a wave 1 headed to wave 3. If we pop here and break 44$ Come back to 37$area then that will start wave 5
Waiting for...
Hit key support level
todays price closed right on the anchored vwap from local low
TD sequential counter hit buy 9 signal
RSI cross up from oversold, trending up
CCI putting in lower low and starting to trend up crossing the oversold level
So I want to sell my house and put it all into MGM. We are breaking MULTI-DECADE resistance here! On the monthly chart, we haven't seen these levels since 2008. On a weekly chart, we broke over major resistance last month and have continued higher. Just off our relative highs, we didn't quite make it to the 1.618 extension. This pullback to the 50 ma and touch of...
