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Downtrend ExhaustionArchive
- 1/10/2025 -
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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 -2.22 points, or -6.51%, and closed at 31.87 on Friday, January 10, 2025. It was the worst weekly loss since November 1, 2024. Weekly volume was 35% above average.
MGM is a member of Consumer Discretionary Sector. Consumer Discretionary is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See MGM long-term trend chart]
A long-term downtrend had started on July 31, 2023 at 51.35 and reached 31.84 on January 10, 2025. MGM lost 19.51 points, or 37.99%, in 75 weeks. Price is near the trend low.
Medium-term trend: [See MGM medium-term trend chart]
A medium-term downtrend had started on October 29, 2024 at 42.54 and reached 31.84 on January 10, 2025. MGM lost 10.70 points, or 25.15%, in 10 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See MGM weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since November 8, 2024. This is an indication that the medium-term trend is down. 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 December 26, 2024 at 35.14 and reached 31.84 on January 10, 2025. MGM lost 3.30 points, or 9.39%, in 15 days. Price is near the trend low.
Daily Technical Indicators: [See MGM daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since December 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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