MGM: ⬇️ Sell
– MGM broke support zone
– Likely to fall to support level 32.00
MGM Resorts (MGM) recently broke the support zone located between the support level 36.00 (which previously stopped waves 2 and 4 in May) and the support trendline of the daily up channel from December.
The breakout of this support zone created the wide downward gap – that should add to the bearish pressure on MGM Resorts.
Given the strong downward momentum, MGM Resorts can be expected to fall further toward the next key support level 32.00 – former multi-month support from January.