MGM Resorts International (MGM) is in the casino group that just had a corrective type pull in off the high. I haven’t looked at this in a while since I got stopped out at $16 area. Wynn Resorts Limited (WYNN) is at 52-week highs so it could get some attention for the sector.
Las Vegas Sands Corp. (LVS) had some negative headlines lately so maybe MGM becomes second in command. The set up is to buy tier one or two around $13.85-13.95. This can be a nice cash flow trade back to $14.40-$14.60. Your stop is $13.30. Long term I also think you can hold for the year and this will make new highs at some point.
*DISCLOSURE: Scott Redler is Long MGM
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