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SmarTrend Watching for Potential Pullback in Shares of MGM Resorts International After 1.01% Gain

By Shiri Gupta

MGM Resorts International (NYSE:MGM) traded in a range yesterday that spanned from a low of $24.56 to a high of $24.98. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $24.73 on volume of 2.4 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.

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 $24.96, 54% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.3%.

Keywords: rebounders mgm resorts international

Ticker(s): MGM