MGM Resorts International (MGM): Bear Flag Alert?

in money •  6 months ago


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Extended 5th waves can be quite dangerous and wreak havoc on price recovery. The below chart of MGM Resorts International (MGM) diaplays a prominent extneded 5th and as you can see, the price devastation was nearly 98% crash! This crash coincided with the 2008 Financial Crisis and the recovery has been meager, at best. Price has been traveling in a channel but does it look impulsive? Or very overlapping? That's one way to tell the difference. The MGM recovery has been very overlapping and not very impulsive.

The blue channel outlines a bear flag. The price movements within it is labeled as a WXYXZ sequence which is corrective. So, perhaps it has been a dead large cat bounce? In other words, the correction that started from the top of the extended 5th is likely not complete! The red ABC shows that wave C could target the sub $1.50 range. EVEN if price made a temporary spike above the upper blue trend line, it might be a sell into the rally time!

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MGM has so much debt

Para ganar a largo plazo

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good job
thank you for sharing friend

in the bear should one stay away or can buy this coin for long run

Great post sir👌
God bless you always my friend☺

God bless you always my friend

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