The bullish DailyPlay we chose for Thursday, April 18th is MGM (MGM). MGM is part of the Consumer Discretionary Sector (XLY). XLY has rallied 6.31% higher over the past month and its 1m and 6m trend turned bullish on March 15th and just set a new 52 week high.
MGM’s 1m and trends turned bullish on April 12th while breaking above its $27 resistance level which now becomes support. With a technical score of 6 (out of 10), MGM is a neutral stock that is starting to trend higher.
As a stop loss, if MGM was to trade below $27 for multiple days, this would invalidate our analysis and suggest getting out of the trade.