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After Yesterday's Rally of 1.69% Shares Could Potentially Pullback

By Amy Schwartz

MGM Resorts International (NYSE:MGM) traded in a range yesterday that spanned from a low of $24.75 to a high of $25.41. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $25.31 on volume of 3.2 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.

MGM Resorts International share prices have moved between a 52-week high of $25.49 and a 52-week low of $16.18 and are now trading 56% above that low price at $25.28 per share. 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