$MGM MGM Resorts International Stock Robo Analyst May 2 2020 #MGM

MGM Resorts International (MGM) “On a long-term technical basis, the stock (MGM) is trading below its 200-day moving average which implies it is in a negative trend. If the new level of support at 12.79 holds, look for a bounce to the next resistance level at 15.30. If the stock breaks up through resistance at 15.36 a positive trend change is being attempted. Look for a possible long-term rally to previous highs.

The stock has support at 12.79 and 10.00. If the stock breaks down through support at 12.79 then it will probably continue lower to 10.00. The stock has resistance at 15.30 and at 16.44. If the stock breaks up through resistance at 15.30 then it will probably continue higher to 16.44. The 200-day moving average is at 26.72. This will also act as resistance. The stock is extremely overbought according to the Stochastic Indicator (75.10).”