MGM Mirage (MGM) NewsBite - MGM Is On the Move

Posted: Monday, November 23, 2009 10:31 AM EDT

MGM Mirage (MGM) appears to be on the move today and is now at $10.83, up $0.12 (1.12%) on volume of 3,477,766 shares traded. Over the last 52 weeks the stock has ranged from a low of $1.81 to a high of $16.89. MGM was covered in a Vic Wisemann report today. To read the report, go to www.marketintelligencecenter.com/vw112309 . MGM Mirage stock has been showing support around $10.28 and resistance in the $11.34 range. Technical indicators for the stock are neutral and S&P gives MGM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MGM the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 9 range. [ABR-Seven Summits Strategic Investments NewsBite]

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