MGM RESORTS INTERNATIONAL

- USD (-)

- 15 min delayed data - NYSE Stocks

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Type:	Stocks
Ticker:	MGM
ISIN:

MGM RESORTS INTERNATIONAL - Daily - Technical analysis published on 10/16/2019 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Court terme: Strongly bearish

De fond: Bearish

Technical indicators

50%

17%

33%

My opinion

Bearish under 28.27 USD

My targets

27.09 USD (-1.85%)

26.50 USD (-3.99%)

My analysis

In the short term, we can see an acceleration in the bearish trend on MGM RESORTS INTERNATIONAL, which is a positive signal for sellers. As long as the price remains above 28.27 USD, a sale could be considered. The first bearish objective is located at 27.09 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 26.50 USD as an objective. Crossing it would then enable sellers to target 25.00 USD. If the price were to return above 28.27 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

FORCE

3.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The MGM RESORTS INTERNATIONAL rating is 27.60 USD. On the day, this instrument lost -0.97% and was between 27.40 USD and 27.97 USD. This implies that the price is at +0.73% from its lowest and at -1.32% from its highest.

27.40

27.97

27.60

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this MGM RESORTS INTERNATIONAL chart shows a bearish trend. 75% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Ichimoku : price is under the cloud

Type : Bearish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	25.00	26.50	27.09	27.60	28.27	29.71	30.55
Change (%)	-9.42%	-3.99%	-1.85%	-	+2.43%	+7.64%	+10.69%
Change	-2.60	-1.10	-0.51	-	+0.67	+2.11	+2.95
Level	Minor	Intermediate	Major	-	Major	Major	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	27.52	27.69	27.78	27.95	28.04	28.21	28.30
Camarilla	27.80	27.82	27.85	27.87	27.89	27.92	27.94
Woodie	27.48	27.67	27.74	27.93	28.00	28.19	28.26
Fibonacci	27.69	27.79	27.85	27.95	28.05	28.11	28.21

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	24.70	25.50	26.79	27.59	28.88	29.68	30.97
Camarilla	27.51	27.70	27.89	28.08	28.27	28.46	28.66
Woodie	24.95	25.62	27.04	27.71	29.13	29.80	31.22
Fibonacci	25.50	26.30	26.79	27.59	28.39	28.88	29.68

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	22.26	24.46	26.09	28.30	29.92	32.13	33.76
Camarilla	26.67	27.02	27.37	27.72	28.07	28.42	28.77
Woodie	21.97	24.32	25.80	28.15	29.64	31.99	33.47
Fibonacci	24.46	25.93	26.83	28.30	29.76	30.66	32.13

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	49.06
MACD (12,26,9):	-0.1900
Directional Movement:	-2.85
AROON (14):	21.43
DEMA (21):	27.50
Parabolic SAR (0,02-0,02-0,2):	26.56
Elder Ray (13):	0.19
Super Trend (3,10):	28.88
Zig ZAG (10):	27.69
VORTEX (21):	0.8100
Stochastique (14,3,5):	71.23
TEMA (21):	27.37
Williams %R (14):	-42.58
Chande Momentum Oscillator (20):	-0.21
Repulse (5,40,3):	-1.8400
ROCnROLL:	2
TRIX (15,9):	-0.1400
Courbe Coppock:	5.35

MA7:	27.42
MA20:	27.74
MA50:	28.11
MA100:	28.04
MAexp7:	27.58
MAexp20:	27.75
MAexp50:	27.99
MAexp100:	27.86
Price / MA7:	+0.66%
Price / MA20:	-0.50%
Price / MA50:	-1.81%
Price / MA100:	-1.57%
Price / MAexp7:	+0.07%
Price / MAexp20:	-0.54%
Price / MAexp50:	-1.39%
Price / MAexp100:	-0.93%

News

Don"t forget to follow the news on MGM RESORTS INTERNATIONAL. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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