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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MGM
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Stronger technical forecast for MGM Resorts International stock price after Monday trading.
(Updated on Mar 18, 2024)

Buy candidate since Mar 18, 2024 PDF

The MGM Resorts International stock price gained 2.89% on the last trading day (Monday, 18th Mar 2024), rising from $42.88 to $44.12. During the last trading day the stock fluctuated 3.30% from a day low at $43.03 to a day high of $44.45. The price has risen in 7 of the last 10 days and is up by 5.02% over the past 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 4 million shares were bought and sold for approximately $155.77 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.98% during the next 3 months and, with a 90% probability hold a price between $38.68 and $44.41 at the end of this 3-month period.

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MGM Signals & Forecast

Mostly positive signals in the chart today. The MGM Resorts International stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $42.93 and $43.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 26, 2024, and so far it has risen 5.68%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Monday, February 26, 2024 and based on theory for this formation the price should go up by 10.28% to $48.66 within 27 trading days since signal was issued (Tuesday, March 19, 2024).

Support, Risk & Stop-loss for MGM Resorts International stock

MGM Resorts International finds support from accumulated volume at $43.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.42 between high and low, or 3.30%. For the last week the stock has had daily average volatility of 2.18%.

Our recommended stop-loss: $42.10 (-4.57%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (MGM) For The Upcoming Trading Day Of Tuesday 19th

For the upcoming trading day on Tuesday, 19th we expect MGM Resorts International to open at $43.86, and during the day (based on 14 day Average True Range), to move between $43.08 and $45.16, which gives a possible trading interval of +/-$1.04 (+/-2.36%) up or down from last closing price. If MGM Resorts International takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $44.71 (1.34%) than the support at $43.49 (1.43%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is MGM Resorts International stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.543 Buy Candidate Upgraded

Predicted Opening Price for MGM Resorts International of Tuesday, March 19, 2024

Fair opening price March 19, 2024 Current price
$43.86 ( 0.582%) $44.12

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MGM

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 45.28 2.64 %
R2 44.74 1.41 %
R1 44.41 0.648 %
Current price: 44.12
Support S1 43.32 -1.81 %
S2 42.99 -2.57 %
S3 42.44 -3.80 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 45.66 3.49 %
R2 45.02 2.04 %
R1 44.71 1.34 %
Current price 44.12
Support S1 43.49 -1.43%
S2 42.86 -2.86%
S3 42.80 -2.99%

MGM Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Nov 02, 2022 Dec 08, 2022 Dec 15, 2022 $0.0030 0.0083%
2 Aug 03, 2022 Sep 08, 2022 Sep 15, 2022 $0.0030 0.0087%
3 May 02, 2022 Jun 09, 2022 Jun 15, 2022 $0.0030 0.0100%
4 Feb 09, 2022 Mar 09, 2022 Mar 15, 2022 $0.0030 0.0075%
5 Nov 03, 2021 Dec 09, 2021 Dec 15, 2021 $0.0030 0.0073%

FAQ

What is the symbol for MGM Resorts International Stock and on which exchange is it traded?
The symbol for MGM Resorts International is MGM and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell MGM Resorts International Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy MGM Resorts International Stock?
MGM Resorts International Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy MGM Resorts International Stock.

What's the current price of MGM Resorts International Stock?
As of the end of day on the 2024-03-18, the price of an MGM Resorts International (MGM) share was $44.12.

What is the 52-week high and low for MGM Resorts International Stock?
The 52-week high for MGM Resorts International Stock is $51.35 and the 52-week low is $34.13.

What is the market capitalization of MGM Resorts International Stock?
As of the 2024-03-18, the market capitalization of MGM Resorts International is 14.104B.

When is the next earnings date for MGM Resorts International?
The upcoming earnings date for MGM Resorts International is May 06, 2024.
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About MGM Resorts International

MGM Resorts International MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports b... MGM Profile

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