Trading Monitor: Zooming in on Shares of MGM Resorts International (MGM) Pivoting at $29.26

Watching some technical levels for MGM Resorts International (MGM), we have noticed that the current 20-Day Bollinger Bands signal is reading Hold. This indicator may be used to assist with identifying oversold and overbought conditions. The signal direction is currently Bearish. Following another signal, we can see that the 10-day moving average Hilo channel reading is showing Hold. This indicator calculates the moving average based on highs/lows rather than the closing price. The direction of this signal has been noted as Bearish.

Often times, investors may become worried when the stock market is highly volatile. Being prepared for volatile situations can help ease the fears that come along with turbulence. Following a well-crafted plan might help ride out the ups and downs that are a normal part of dealing with the market. Investors should be prepared for market situations that provide ample opportunities. Although market downturns can be unsettling and cause panic, investors who are able to stay the course and keep calm may be able to spot good buying opportunities when the wider market is selling. 

MGM Resorts International (MGM) currently has a 6 month MA of 27.59. Investors may use moving averages for different reasons. Some may use the moving average as a primary trading tool, while others may use it as a back-up. Investors may be watching when the stock price crosses a certain moving average and then closes on the other side. These moving average crossovers may be used to help identify momentum shifts, or possible entry/exit points. A cross below a certain moving average may signal the beginning of a downward move. On the other end, a cross above a moving average may indicatet a possible uptrend. Investors may be focused on multiple time periods when studying moving averages. Zooming out a bit further, we have noted that the 9 month moving average is currently 27.45.

Investors may be tracking the average range on shares of MGM Resorts International (MGM). The stock currently has a 9 day average range of 0.73. This a moving average of trading ranges over a 9 day time frame. With this value, higher numbers tend to occur at market bottoms while lower values may be spotted during extended sideways periods. Looking at the 9 day relative strength reading, we can see that the value is currently 54.88%. This technical momentum indicator compares the size of recent gains to recent losses helping to identify possible overbought and oversold conditions.

Shifting gears, we see that the opinion signal for the current session is 80% Buy for MGM Resorts International. Investors may also be watching the strength and direction of the opinion signals. The opinion direction is presently Weakening. This is a measurement over the last three trading sessions that gives an indication of whether the latest recent price movement is following the signal. A Buy or Sell signal with a “Strongest” direction indicates that the signal is gaining strength. The opinion strength signal is presently reading Average. This is a longer-term measure verse the historical strength.

MGM Resorts International (MGM) currently has a standard deviation of -1.10. Standard deviation is defined as a measure of the dispersion from the mean in regards to a data set. When dealing with financial instruments, the standard deviation is applied to the annual rate of return to help measure the volatility of a particular investment. Watching the standard deviation may help investors see if a stock is primed for a major move. The stock’s current pivot is 29.26. The pivot point is typically used as a trend indicator. The pivot is the average of the close, low, and high of the prior trading period.

Investors may be combing through all the latest company earnings reports. They may be trying to figure out which companies look like they are going to be strong over the next few quarters. Earnings reports have the ability to cause dramatic stock price swings. Many investors will stay away from making any big trades around earnings announcements. When the dust settles, it may be much easier to determine whether a stock is worth buying or if it should be sold. Keeping a close eye on historical earnings results can provide some good insight. Companies that consistently produce solid earnings may be worth looking into further, especially if the investor is on the fence about getting into the name.

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