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 News Traders
Investors and traders in MGM may be particularly interested in the following story that came out in the past day:
Analyst Stephen Grambling raised his raring on the stock to Neutral from Sell, raising his target for the stock price.
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