Feb 02, 2020 (Stock Traders Daily via COMTEX) -- The Mgm Resorts International /zigman2/quotes/209932643/lastsale MGM +2.34% update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for MGM, and 1300 other stocks too, updated in real time for our trial subscribers . The data below is a snapshot, but updates are available now.
The Technical Summary and Trading Plans for MGM help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this MGM Report.
The technical summary data tells us to buy MGM near 29.54 with an upside target of 31.66. This data also tells us to set a stop loss @ 29.28 to protect against excessive loss in case the stock begins to move against the trade. 29.54 is the first level of support below 31.06 , and by rule, any test of support is a buy signal. In this case, support 29.54 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of MGM as it gets near 31.66 with a downside target of 29.54. We should have a stop loss in place at 31.92 though. 31.66 is the first level of resistance above 31.06, and by rule, any test of resistance is a short signal. In this case, if resistance 31.66 is being tested, so a short signal would exist.