MGM Resorts International (MGM): Price Now Near $37.94; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for MGM

At the moment, MGM (Get Ratings)’s price is down $-0.44 (-1.15%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. 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 31st in regards to today’s price percentage change.

MGM’s Technical Outlook on the Daily Chart

At the moment, MGM’s price is down $-0.15 (-0.39%) from the day prior. This is the 2nd day in a row MGM has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. MGM Resorts International’s price action over the past 90 days can be seen via the chart below.



MGM: Daily RSI Analysis

  • For MGM, its RSI is now at 48.6486.
  • MGM and RSI may be exhibiting divergent trends. This may be something to monitor.

For MGM News Traders

Investors and traders in MGM may be particularly interested in the following story that came out in the past day:

MGM Stock Has More Potential, Goldman Sachs Says

Analyst Stephen Grambling raised his raring on the stock to Neutral from Sell, raising his target for the stock price.

Want More Great Investing Ideas?

9 “MUST OWN” Growth Stocks for 2021

5 WINNING Stock Chart Patterns

7 Best ETFs for the NEXT Bull Market