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SmarTrend Watching for Potential Rebound in Shares of Mgm Resorts Inte After 7.01% Loss

By David Diaz

Mgm Resorts Inte (NYSE:MGM) traded in a range yesterday that spanned from a low of $13.17 to a high of $13.84. Yesterday, the shares fell 7.0%, which took the trading range below the 3-day low of $14.43 on volume of 19.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Mgm Resorts Inte has traded in a range of $5.90 to $34.63 and is now at $12.76, 116% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.9% while the 200-day MA has slid 0.8%.

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

Keywords: rebounders mgm resorts inte

Ticker(s): MGM