Tag: MGM

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

Nicholas
MGM Resorts International Stock Code MGM.NYS

Outlook
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.

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

CFD Trading – LV Sands & MGM Resorts

Nicholas

Las Vegas Sands Corp Stock Code LVS.NYS

Outlook
Price tested the high of $50 for three times and on the third occasion, it managed to break above but was unable to sustain above the resistance. Following the third test, price declined for three consecutive days and is now near to the edge of the cloud. We think price is likely to continue downward over the next couple of weeks. While Conversion, Base and Lagging Span have yet to give a sell signal, the price movement looks like a consolidation is about to end. MACD is about to experience a bearish crossover just above the zero line, signaling a bearish trend ahead as well.

Strategy
$45.50 Short Sell
$36.60 Price Target
$51.90 Risk Management Stop
3 weeks Trade Duration

MGM Resorts International Stock Code MGM.NYS

Outlook
Price declined below the cloud last night and this could be the start of another decline to come. Conversion line crossed over the Base line to the downside last night as well. This bearish crossover is a sign of more downside to come. Lagging Span confirms the bearish trend as it is below price of 26 days ago as well as below the cloud. MACD is also showing a bearish trend. The fast line has crossed over the slow line, forming a bearish crossover around the zero line. We think price is likely to decline to $9.00 in the next few weeks.

Strategy
$13.70 Short Sell
$9.00 Price Target
$16.00 Risk Management Stop
3 weeks Trade Duration