Nov. 14 at 4:04 AM
$MGM
Market Context: The last close at
$32.82 is above the 30-day moving average (MA30) of
$32.36 but below the 50-day moving average (MA50) of
$33.56, indicating mixed signals. The RSI at 50.08 suggests a neutral momentum, with no clear overbought or oversold conditions.
Directional Bias: Given the proximity to the MA30 and MA50, along with the RSI indicating neutrality, the market appears to be consolidating. The 60-day high of
$40.16 and low of
$29.19 provide a significant range, suggesting potential for movement.
Suggested Entry: Consider entering a long position above
$33.00, which would break above the MA50 and indicate bullish momentum.
Stop: Place a stop loss at
$31.50 to manage risk.
Targets: First target at
$36.00, which is a midpoint in the high-low range, and a second target at
$38.00, approaching the recent high.
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