MGM
MGM - Monthly viewMonthly view of MGM
Well I think in the long term view MGM can go to 57.80 and later on close to 92.33.
For 57.80 I am more confident because it's the high of the channel where the prices are.
For 92.33, maybe I'am crazy... but it's not impossible. What I can say is, lets go to 57.80 first, then we will se how prices react on this level.
:)
$MGM Threatening a big breakout on weekly and daily time frames$MGM is looking to come out of its base that is has been consolidating for the past 6 months or so. Daily and Weekly both good look to continue the strong uptrend.
MGM Resorts Buy IdeaW1 - Double cycle, price respecting 61%. We might see a range.
If there are no buys from the zone where the price currently is, we will be looking for buys in the next zone.
D1 - We have a range, price is at the bottom, we might expect it to reach the top.
H4 - Intraday cycle, bullish divergence, price reaches the magnet zone.
Aggressive - Wait for breakout above the high marked in the chart and then look for correction and buy.
Conservative - If you want to be more conservative then wait for breakout above the high marked in the chart and then look for correction and buy.
$WYNN ellipse breakoutText-book ellipse breakout with expanding volume, what a beauty! Huge upside potential, $PENN is looking wonderful too.
Yeah I said it....ellipse breakout!!
gaming casino stocks moving up? $LVSI really like to see the kind of wide agreement we are seeing in price action among the gaming stocks. I'm not yet willing to buy into this but am feeling a blast to the upside coming especially with the big inverted head and shoulders in motion.
Mgm resorts i would love to buy this breakoutlooking good if it breakouts i will buy previously missed same pattern on silver monthly but will take this one for sure
Reasons To Buy:
Channel Breakout
Trend Reversal Formation
Excellent Risk To Reward Ratio Trade
Financial Institutions Expecting Longs
Consolidation in this region for a long term
Stocks Shows increase in volume
Indicators are turning positive
Mgm Resort Bearish Volume Coming InnIf Market closes below 18.20 Level which financial institutions are watching right now then i will be shorting it with take profits@ flag
Reasons to short
1-Market in downtrend
2-Market moving in downward channel or wedge that retail traders know off
3- market showing vertical resistance on top
4-Market rejecting from upper vertical resistance
5- Market having huge bearish volume
6-Moving average compression
7-Bullish trend reversal can be formed after candle close below that level
8-News are following the markets saying a bearish bias in market trend
9-if lower trend line candle close happens then market will drop down to pavement due to wedge breakout pattern rules
MGM Day Trade Retest Gap (Brad Reed Mar17,2015)MGM expected to open at 21.05 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
MGM WEEKLY VIEWLong over 21.70 via Dec 22-24 calls. Earnings coming up next week. Will trim half prior.
Pin Bar with Volume Spike and Momentum DivergenceMGM brought huge volume yesterday to form a pin bar at support. This support level was hit with some momentum divergence and should hold. I am looking for a retest of 24.80s for a 1:1.5 RR ratio. Price has broken the high of yesterday, and this pullback should provide a good entry point of which to take advantage.
