MGM - MGM Resorts InternationalMy chart tells me that price is likely to reach $52 levels. From current levels it will be a $4 gain. Traders may consider buying $52 Call Option November expiry.
MGG trade ideas
MGM fans ?I can see that there's a chance to make a 10% benefit here .
We just need to be ready in case the resistance leads to a fall.
MGM Restorts Int: Will it close the gap below $1023rd, March 2020: the high was $9.81
24th, March 2020: The low was $10.66
-> MGM's price never returned back to $9.82 to close the gap that still remains. It's a hole in the price of MGM.
03rd, April 2020: The lowest price came was to $10.00
The market has a gap between: 23rd March at $9.81 and at $10.00 on April 3rd.
There is a 95% chance that the gap between these two will close. The market hardly leaves any gaps in the Daily, weekly and Monthly time frames. So be prepared at those low prices, do not think the market is just going up. It could go either way, but make sure you think of plan, and also adjust it accordingly if things aren't working out.
I also spoke about the divergence in an older post. Check that out to see how probability was telling me it's going back down.
Today it's beautiful here in Southern part of Canada,
Cheers everyone. ))
MGM - Trading IdeaMGM -5.25% is approaching support zone between 30 - 30.50 levels. Expecting a Strong recovery till 31.30 levels.
Trade Strategy :
Buy @ 30.30
Target price @ 31.30
Stop loss below 29.80
Reward to risk - 2:1
Disclosure : The view expressed above is my own analysis on the stock. You are responsible for your own investment / trading decisions.
