One important metric to look for in a stock is an 80 or higher Relative Strength Rating. MGM Resorts Intl stock cleared that benchmark Wednesday, with a jump from 80 to 83 Wednesday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks tend to have an RS Rating of over 80 as they begin their biggest runs.
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Is MGM Resorts International Stock A Buy?
MGM Resorts International stock is trading within a buy range after moving past a 38.74 buy point in a double bottom. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The casino operator posted 0% earnings growth in the latest quarterly report. Revenue increased 26%. Look for the next report on or around Feb. 8.
MGM Resorts International stock holds the No. 11 rank among its peers in the Leisure-Gaming/Equipment industry group. Sportradar Group and Churchill Downs are also among the group's highest-rated stocks.
