MGM Resorts Linternational - Barchart's Chart of the Day

MGM Resorts International (MGM) is Barchart's Chart of the Day.  The hospitality stock has a Trend Spotter buy signal, a Weighted Alpha of 97.60+ and gained 95.93% in the last year.

The Chart of the Day is MGM Resorts International (MGM).  I found the stock by sorting the New High List, eliminating the stocks that didn't have positive gains of the last week and month and used the Flipchart feature to pan through the charts.  since the Trend Spotter signaled another buy on 12/6 the stock is up 12.00%.

It is a global hospitality company, operating a portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company's resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities. It owns and operates properties located in Nevada, Mississippi and Michigan, and has investments in some properties in Nevada, Illinois and Macau. Through its hospitality management subsidiary, the Company holds a growing number of development and management agreements for casino and non-casino resort projects around the world.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 18 new highs and up 21.76% in the last month
• Relative Strength Index 79.57%
• Barchart computes a technical support level at 21.88
• Recently traded at 22.60 with a 50 day moving average of 19.98

Fundamental factors:

• Market Cap $11.06 billion
• Analysts predicted revenue will grow 6.20% this year and another 4.90% next year
• Earnings are estimated to increase 66.70% this year, an additional 195.70% next year and continue to increase at an annual rate of 13.00% for the next 5 years
• Wall Street analysts issued 4 strong buy, 13 buy and 10 hold recommendations on the stock
• Financial Strength is C++

As we come out of this recession leisure stocks should fair nicely.  Use the 100 day moving average to play this one.