| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| MGM $12.06 |
MGM has been trending sideways since falling from a peak high of $16.66 in late April. The price hit a swing low of $10.82 on June 8.
Today's rise in price and volume was accompanied by a phase switch to bull on both the macd and Person's Proprietary Signal.
Longer term, MGM has been hammered by the collapse of finance and the subsequent recession. It reached a high of $100.50 in October 2007, and fell to a low of $1.81 in March 2009. So this stock, like many, is digging out of a very deep hole.
Reversal Levels
- $12.84, +6.5%
- $12.45, +3.2%
- $12.06 <== You are here.
- $10.82, -10.3%
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.
Disclaimer
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.Abbreviations:
- psar - Parabolic Stop and Reverse
- adx - Average Directional Index
- pps - Person's Proprietary Signal
- ma20 - 20-day moving average
- macd - Moving Average Convergence-Divergence
- sto - Fast Stochastic
- trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
- adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
- psar, pps, macd: green for bull mode, red for bear
- sto: green for overbought, red for oversold, yellow for the neutral zone.
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