Ready to Roll the Dice with MGM?

MGM Resorts (MGM) is gearing up for a resistance challenge and the speculator in me expects a breakout. First and foremost, MGM is in a long-term uptrend with the September 7th spike marking a 52-week high. The 50-day EMA is also above the 200-day EMA and price is well above the rising 200-day EMA. 

The stock surged some 15% from mid October to late November with a move to the resistance zone. A triangle consolidation then unfolded and a consolidation after an advance is typically a bullish continuation pattern. A break above the early January highs would be bullish and signal a continuation higher.  < p class"entry-more-link">Continue reading "Ready to Roll the Dice with MGM?" »

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