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After Yesterday's Rally of 1.15% Shares Could Potentially Pullback

By Nick Russo

MGM Resorts International (NYSE:MGM) traded in a range yesterday that spanned from a low of $24.74 to a high of $25.15. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $24.85 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for MGM Resorts International and will alert subscribers who have MGM in their portfolio or watchlist when shares have changed trend direction.

Over the past year, MGM Resorts International has traded in a range of $16.18 to $25.29 and is now at $25.10, 55% above that low. The 200-day and 50-day moving averages have moved 0.30% higher and 1.26% higher over the past week, respectively.

Keywords: rebounders mgm resorts international

Ticker(s): MGM