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MGM Resorts International (NYSE:MGM) Trade Level You Should Know

|About: MGM Resorts International (MGM)

As you all know, leading casino stock MGM Resorts International(NYSE:MGM) has been under pressure since the horrific shooting in Las Vegas this past Sunday. MGM stock has declined steadily lower since September 7, 2017 when the stock traded as high as $34.65 a share. Traders and investors should note that the stock should have major daily and weekly chart support around the $28.50 area. This is a level where the stock broke out in April 2017. Often, when stocks retest their prior breakout levels they will be supported and defended by the institutional money.

Nicholas Santiago