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

By Amy Schwartz

Today, shares of MGM Resorts International (NYSE:MGM) have fallen below their 10-day MA of $30.58 on a volume of 2.9 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, MGM Resorts International has traded in a range of $16.18 to $31.32 and is now at $30.32, 87% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.3%.

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 12.8%. 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