Cautious From $LVS ER Miss - Looking For Support/EMA Bounce

17 Tem 2014

MGM has been bouncing off a strong upward sloping support level since late April. Over the past week we have seen consolidation with small bodied candles and short trading ranges.

After testing the 50ema yesterday, we closed just a few pennies above that level. I am looking to see a nice bounce off of this support line as well as off the 50ema. Will be keeping an eye on the 20ema as the next resistance level