Stock Trading Predictions & Technical Analysis: MGM, LVS, WYNN, F, MGA, CAL, DAL- Casino, Automotives & Airline Stocks Fly High

Tuesday, January 5, 2010

MGM, LVS, WYNN, F, MGA, CAL, DAL- Casino, Automotives & Airline Stocks Fly High

MGM - BUY SIGNAL

MGM finally broke its down trend today, and moved above its 50 day MA giving us a BUY SIGNAL. The MACD and Stochastic both gave us a BUY SIGNAL also. In the upcoming sessions, MGM has manage to stay above its 50 day MA for a day or two. A break back below the 50 day MA would most likely cause MGM to fall back into its down trend.

LVS - HOLD

After giving us a BUY SIGNAL yesterday, LVS managed once again to move strongly higher today. LVS is now a HOLD, and closed just below its resistance level of around $18.20. A strong move above this level would give us another BUY SIGNAL. LVS' support level is now at $17.00 and at its 50 day MA around $15.85. If LVS fails to continue higher tomorrow, we could expect to see LVS trend between the 50 day MA and the $18.20 resistance level, until it break up or down one side or another, to give us a BUY SIGNAL or SELL SIGNAL. Right, now LVS along other casino stocks look strong and appear to have the momentum.

WYNN - HOLD

After giving us a BUY SIGNAL yesterday, WYNN managed once again to move strongly higher today. WYNN is now a HOLD, and closed just below its resistance level of around $67.85. A strong move above this level would give us another BUY SIGNAL. WYNN's support level is now at $65.00 and at its 50 day MA around $61.00. If WYNN fails to continue higher tomorrow, we could expect to see WYNN to trend sideways between the 50 day MA and the $67.85 resistance level, until it break up or down one side or another, to give us a BUY SIGNAL or SELL SIGNAL.

F - BUY SIGNAL

F which has already been trending up since early November, gave us a BUY SIGNAL today with a strong move above its resistance level of $10.50. F now has to stay above $10.50 to turn this level into the new support level.

MGA - HOLD

MGA gave us a BUY SIGNAL yesterday, and today continued much higher confirming the signal. MGA is now a HOLD with support levels around $52.00 and $53.00.

CAL - BUY SIGNAL

After trading sideways for about 2 1/2 weeks, CAL has given us a BUY SIGNAL today with a strong move above the $19.00 resistance level, which now looks to be the new support level. Both the MACD and Stochastic also gave us a BUY SIGNAL which adds strength/credibility to this signal.

DAL - WAIT

Despite a strong move up today, DAL is still trading within its sideways trend between $11.00 and $12.00. DAL is possibly lagging behind other airline stocks such as CAL, and a move higher again tomorrow for the Airline industry would most likely send DAL higher to give us a BUY SIGNAL. A strong break above $12.00 would give us a BUY SIGNAL and a break below $11.00, a SELL SIGNAL.

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TECHNICAL INDICATORS

BUY SIGNAL: Indicates the possibility of the start of a new up trend or the continuation of the current up trend. This signal may be often given in the early stages of a potential new up trend that was preceded by a down or sideways trend. Such signals do not always succeed and may fail at time.

BUY: Indicates that the current up trend is already in motion and a BUY SIGNAL was already given earlier. A BUY does not necessarily indicate that the stock will continue higher from here, but simply that the stock is trending up. The further into the trend you decide to take a long position, the more risk you have of seeing it reverse back down sooner rather than later.

STRONG BUY SIGNAL: Indicates a stronger, more significant and reliable signal than a BUY SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG BUY: Indicates that the current up trend is already in motion and that STRONG BUY SIGNAL was already given.

SELL SIGNAL: Indicates the possibility of the start of a new down trend or the continuation of the current down trend. This signal may be often given in the early stages of a potential new down trend that was preceded by an up or sideways trend. Such signals do not always succeed and may fail at time.

SELL: Indicates that the current down trend is already in motion and a SELL SIGNAL was already given earlier. A SELL does not necessarily indicate that the stock will continue lower from here, but simply that the stock is trending down. The further into the trend you decide to sell a position, the more risk you have of seeing it reverse back up.

STRONG SELL SIGNAL: Indicates a stronger, more significant and reliable signal than a SELL SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG SELL: Indicates that the current down trend is already in motion and that STRONG SELL SIGNAL was already given.

HOLD: Indicates that traders who already hold this stock, should hold on as long as the trend persists. This signal is usually given during an up trend for which it would be considered too risky to take a long position at this point.

STRONG HOLD: Indicates that the current trend has been in motion for a while and rarely deviated away from the trend. Although the stock may continue higher, there may not be enough potential up side to trigger a BUY SIGNAL. This type of indicator usually means that the stock has very strong support levels which may have been tested but not broken.

WAIT: Usually given during a sideways trend for which we are waiting for a move that would trigger a BUY SIGNAL or SELL SIGNAL. This could also indicate uncertainty and the risk that would be taken if you were to take a long position at the current level. Taking a long position after giving a WAIT indicator is considered a gamble.