Why It's Time to Bet on This Casino Stock
MGM Resorts International(MGM) Schaeffers Research·2024-04-16 00:58
Casino stock MGM Resorts International (NYSE:MGM) is higher today, last seen up 1.2% at $42.98. The equity yesterday pulled back 5% to close below the $42.50 area for the first time since early March, and is coming off its second-straight weekly loss with a 3.3% deficit for 2024. Now looks like the right time to bet on the security's next move higher, however, as this most recent pullback placed it near a historically bullish trendline. Specifically, MGM is trading within one standard deviation of its 126-d ...