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MGM Resorts International Crosses Above its 10-day MA (MGM)

By Shiri Gupta

MGM Resorts International (NYSE:MGM) crossed over its 10-day moving average of $31.22 on a volume of 853K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

MGM Resorts International share prices have moved between a 52-week high of $32.28 and a 52-week low of $16.18 and are now trading 95% above that low price at $31.51 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of MGM Resorts International on March 30th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.35. Since that recommendation, shares of MGM Resorts International have risen 13.2%. We continue to monitor MGM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses mgm resorts international

Ticker(s): MGM