MGM closes higher for the 3rd day in a row
MGM Resorts International (MGM) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, MGM finished the week 3.48% higher at 27.68 after gaining $0.20 (0.73%) today. Today's closing price of 27.68 marks the highest close since September 4th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (MGM as at Sep 14, 2018):
Friday's trading range was $0.72 (2.58%), that's slightly above last trading month's daily average range of $0.68. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Unable to break through the key technical resistance level at 28.03, MGM Resorts closed below it after spiking as high as 28.16 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.