A clean Bullish Flag often precedes a big move. Validate your entry.
Bullish continuation if preceding move was up.
Gradual reversal from bearish to bullish.
Consolidation. Can break either way.
Bullish continuation pattern.
Reversal pattern. Price likely to break downwards.
Sideways movement between parallel supports.
MGM is showing interesting structural developments at $36.68. Currently at $36.68, the asset is showing downward momentum (-0.27%). Price action has carved out a classic Bullish Flag. Volume is average (0.7x avg) with moderate trend strength (0.0). A potential breakout level is identified at $37.97, targeting $45.08 with support near $35.32 (R:R 2.68).
What is your outlook on MGM?