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Archive
- 4/5/2024 -
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MGM Resorts International (MGM) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was the negative week for the MGM Resorts International (MGM). During the week, the MGM dropped -0.68 points, or -1.44%, and closed at 46.53 on Friday, April 5, 2024. It was the worst weekly loss since February 16, 2024. Weekly volume was -40% below average.
 Long-term trend: [See MGM long-term trend chart]
A long-term uptrend had started on June 23, 2022 at 26.41 and reached 51.35 on July 31, 2023. MGM gained -24.94 points, or -94.43%, in 57 weeks. The price is now at the 19.33% retracement level.
Medium-term trend: [See MGM medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 34.13 and reached 48.25 on April 1, 2024. MGM gained -14.12 points, or -41.37%, in 22 weeks. The price is now at the 12.18% retracement level.
 Weekly Technical Indicators: [See MGM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See MGM short-term trend chart]
A short-term downtrend had started on April 1, 2024 at 48.25 and reached 45.76 on April 5, 2024. MGM lost 2.49 points, or 5.16%, in 4 days. The price is now at the 30.92% retracement level.
Daily Technical Indicators: [See MGM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since March 8, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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