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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 crossed bearishly below their 10-day moving average of $24.50 on a volume of 1.8 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, MGM Resorts International share prices have been bracketed by a low of $16.18 and a high of $25.29 and are now at $24.35, 50% above that low price. 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 is monitoring the recent change of momentum in MGM Resorts International. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of MGM Resorts International in search of a potential trend change.

Keywords: moving crosses mgm resorts international

Ticker(s): MGM