MGM Resorts Enters Oversold Territory with RSI at 29.9

MGM Resorts sees its RSI drop to 29.9, signaling oversold conditions. Investors may find this an enticing buy opportunity as heavy selling shows signs of exhaustion.

Date: 09-01-2025

AI Rating: 6

Technical Indicators and Stock Performance: The report highlights that MGM Resorts International (MGM) has reached an RSI of 29.9, indicating it is in oversold territory, typically below 30.

This technical analysis suggests that the heavy selling pressure on MGM shares may be waning, which could lead to potential buying opportunities for investors. The current trading level of $32.69 is very close to its 52-week low of $32.50, suggesting a precarious price situation. However, this also means investors might see it as a low entry point.

Comparatively, the S&P 500 ETF (SPY) has an RSI of 46.6, indicating a higher momentum and less fear. The substantial gap between MGM's RSI and SPY's reflects unique challenges and sentiments specifically affecting MGM's stock.

Additionally, the historical trading range shows a high of $48.245 against its low of $32.50, emphasizing potential for recovery should investor sentiment shift positively.

Stocks: MGM