CFD Trading – Buy MGM Resort International (MGM.NYS) @ $20.90 Stop at $19.00 and Target at $29.70

MGM Resorts International Stock Code MGM.NYS

Price broke above the cloud on 7 August 2020 and reached a high of $23.79. After reaching this high, a price correction bought price to a low of $20.40, which is also the gap support zone. Price also managed to stay above the cloud maintaining the bullish trend. Conversion line and Base line had a bullish crossover and is hinting of a bullish trend. Lagging Span is above price of 26 days ago and above the cloud at the moment. MACD is bullish at the moment with both its lines above the zero line. As long as price stays above the gap support of $19.03, we see price breaking up to test its previous high at $23.86 and going up to $29.80.

$20.90                Buy
$29.70                Price Target
$19.00                Risk Management Stop
3 weeks              Trade Duration

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