MGM Worth the BET?
Not financial advice
1st thing that draws my attention is the resistance at 47.00
2nd thing I noticed is the move up the last 3 months back to 47.00 was a bearish move up as evidenced by the descending channel on Stoch RSI
3rd thing is we double topped on regular RSI even though we came up to 47.00
We have had 6 months of support at 33.00 range.
This also represents staying above pre-covid crash levels.
But some wonderful news.
We have continually logged higher lows since the COVID crash will tells me momentum is trying to build up to eventually take out the 47.00 range.
Clearly bears are in control so a wait and see approach could be justified.
Especially if we lose the 33.00 level
Always remember Patience is Key #PIK
And to think like a whale
#TLAW
1st thing that draws my attention is the resistance at 47.00
2nd thing I noticed is the move up the last 3 months back to 47.00 was a bearish move up as evidenced by the descending channel on Stoch RSI
3rd thing is we double topped on regular RSI even though we came up to 47.00
We have had 6 months of support at 33.00 range.
This also represents staying above pre-covid crash levels.
But some wonderful news.
We have continually logged higher lows since the COVID crash will tells me momentum is trying to build up to eventually take out the 47.00 range.
Clearly bears are in control so a wait and see approach could be justified.
Especially if we lose the 33.00 level
Always remember Patience is Key #PIK
And to think like a whale
#TLAW
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