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Stock Pick of the Day - MGM Mirage
Nov 30, 2009

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Larry Swing

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Stock Pick of the Day

MGM Mirage)

Stock Price: $10.56

RSI: 58.28

MACD: -0.01

 

MGM Mirage is trading below its 200 days MA for the past couple of days, and showing weakness on charts. The company’s CEO has confirmed that all its exposures in Dubai City center property development worth $8.5 billion in a joint venture are fully funded and protected against any default by its partner.

 

However, the company’s stock is likely to face further sluggish trend for a short time, time till the aftermaths of Dubai crisis are not fully cleared. The stock may get next support at a lower level of $9.5. It could be sold on higher end of the range $9.5-$11.5.

 

...thanks for the trust you've shown in me and my business.

by Larry Swing
larry@mrswing.com
May the swing be with you...

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C:14.0200

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