MGM Mirage (MGM) NewsBite - MGM Downgraded By Susquehanna Financial

Posted on Friday, October 10, 2008 2:12 PM

MGM Mirage (MGM) was downgraded today by analysts at Susquehanna Financial and the stock is now at $14.65, down $1.61 (-9.9%) on volume of 4,674,526 shares traded. The analyst downgraded the stock to "Neutral" from "Positive." Over the last 52 weeks the stock has ranged from a low of $14.90 to a high of $100.37. MGM Mirage stock has been showing support around $12.05 and resistance in the $21.97 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 an October out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]