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MGM Resorts International Message Board

  • thetechtraderca thetechtraderca Mar 15, 2013 10:35 AM Flag

    Harry Boxer's Charts of the Day

    Harry has posted a Charts of the Day video on MGM Resorts International (MGM) at TheTechTrader site noting: MGM Resorts International (MGM) had an interesting day on Thursday. It formed a base pattern with multiple tops going back to May 2012, retested the lows, and had a breakout with a breakaway gap. It retested three times, held support, and on Thursday, it popped 84 cents to 13.25, or 6.77%, on 47 million shares. That’s the biggest volume going back two years. It looks like this stock can make further headway. The next target is up around 15, followed by 16-16 1/2-3/4, testing the multiple-year highs going back. This is a very interesting pattern. It has a big, long downtrend going from 2007 to 2009, a big spike right back up, and then 3 1/2 years in a long trend going sideways. Key resistance is up around 17. If it gets through there, this stock could move into the mid to high 20’s.

25.98-0.15(-0.57%)Oct 27 4:01 PMEDT