Bet On This Casino Stock At This Level
Many of the leading casino stocks have come under selling pressure recently. One leading stock in the industry group that has caught my eye is MGM Resorts International (NYSE:MGM). This leading casino stock made a short term top on January 29, 2018 at $38.41 a share. Since that time, MGM stock has pulled back by more than $5.00 a share. Today, MGM stock is trading at $32.92 a share. Traders should watch the $30.40 level as the next major support area for the stock. This would a very solid level for a long side trade should MGM decline into this area. The company is scheduled to report earnings on February 20, 2018 before the opening bell.