0JWC trade ideas
Upside potentialSo a few days back, I posted a potential short trade on MGM, it reached my target.
For now, it is oversold on the 1,3,6 month chart and is at a support zone(61,8% fib level and longer-term support line at the same time)
You can also spot a regular divergence on the MACD.
Considering these circumstances, I expect a bounce from this level.
My first target is around 17,67
Be careful tho.
Using a stop-loss could be helpful.
Stop loss: 15,41
MGM On the way to a double top? Possible...It seems that since the stock broke, it has been going down a clear channel.
According to wave 3, wave 5 appears to produce a double peak.
It could be a good situation for Long and then get into a short position.
Please share what you think.
Approaching buy zones, but until that... Well, I am often bullish, but sometimes I need to switch sides to make money.
In this case: I will short MGM until the yellow line breaks. And I will start buying when the price reaches the second purple zone.
MGM - MGM Resorts International BUY investment opportunityHello traders,
Description of the analysis:
MGM Resorts International investment opportunity. I already invest to this stock with big potencial. I bought 462 pcs of shares. Trade what you understand, trade carefully and sparingly according to the business plan. This is not investment recommendation.
About me:
Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund ($4.000.000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades.
Jacob
MGM Long IdeaWaiting for double bottom retest and volume then hopping in. Good luck. Director accumulating.
$MGM Resorts $23.50
Looks like the open up stocks are set to rally once again.
The local Fibonacci golden pocket looks like a nice target area once again
Trucking Along The SPY - 06/12/20 RECAPHi traders,
After an indecisive start of Friday's trading and one false breakout later, I managed to both enter and exit pretty nicely in MGM, making it probably the nices trade of the month. Ending up slightly down for the week though.
Trades:
1) MRO - LONG @6.81, -0.70%
2) MGM - SHORT @19.09, +2%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: +1.30%
Total PnL for the week: -2.04%
Good trades,
Tom | FINEIGHT
MGM uptrend ? 14 June 2020 MGM is making a higher high higher low structure. Healthy volume can be seen with the uptrend. Price was supported at 50 EMA with the Thursday retracement. I expect more potential downside this coming week with the last week bearish engulfing close. 6-17 is a good low risk long entry. Have patience and trade well.
MGM and its bipolar swings. My expectations.
Casino stocks have been good to me here lately. With the economy starting to reopen so are the casinos. And casinos took a big hit on the corona scare. So they present us with some good opportunity. MGM has been in my portfolio for some time now, and as of late it has been having some pretty bipolar pre and after market trading session which is putting a damper in analysis. Even still, with pre corona prices being around 32$ I still feel like we have plenty of ground to run on. These are the two most likely routes I see in the near future.
MGM Resorts Technical AnalysisThe idea is to go long.
MGM Resorts (MGM) – MGM will reopen more Las Vegas casinos, following strong performances for the Bellagio, MGM Grand, and New York New York following their reopenings. The Excalibur will open Thursday, followed by ARIA, Mandalay Bay and Four Seasons Las Vegas on July 1.
Entry/ sell offCouple possible entry points coming up and some sell-off points for extra capital before it drops but overall long.
MGMMGM: price still in an uptrend. Current movement is the retracement toward 38.2 Fib level. Expect price to move toward $25 area then $30 next
Entry: Current area
TP1: $25
Tp2: $30
SL: Invalidation area
This is not trade advice, it is for education purpose and for my personal use only.
Expected decrease in MGM using Elliot Wave TheoryAs seen in the charts, i am expecting a 3 move corrective wave downwards within the channel towards $15.23, which is also the support for the 2nd wave in the previous 5 move impulse wave, as well as the resistance for the first wave move in the first set of impulse waves. The only scenario that will deny this expectation is if price breaks out from the current channel upwards. This is a speculative short-term play before going long if this 3 move corrective wave plays out correctly. Please do note that casinos will be opening up again in the near future, thus, be careful of this short-term play.
$MGM $24 price target
Approaching channel resistance.
Much depends on reopening commentary from the company in the days to come.
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL , THANKS.
Possible MGM Long IdeaI am thinking this thing is poised to breakout with states reopening, and their casinos already being sold out for the month. It is already breaking resistance and I think it could hit one of these targets and possibly re visit all time highs.
This is mainly based off momentum, elliot waves, and fibonacci targets and retracements. What do you think of this? I am fairly new to this so any advice is appreciated.
MGM Resorts - BUYAs things start to open up look for resorts to start allowing more foot-traffic. Proper sanitizing will help ensure that they don't shut back down.
We see MGM as a good long-term hold - if anything to store some cash in between positions.
That's what we did on 5/11 and have seen a nice +25%.
1D charts tell us nothing we don't already know.
