Casino stocks broke out huge Friday, with MGM leading the sector, up over 15%. I caught the breakout right in the morning and rode it to the high. Today I took off 1/3 of my position. Look for a secondary breakout here if it can clear todays high.
PMI broke out nicely on Friday but today got stuck at the June highs and has pulled back to some support around the low $4's. Today's candle formed a dark cloud cover, which penetrated below half of yesterday's candle, which could be a signal of a short term reversal for now. However, major moving averages are acting as support right below so there is a battle right now between the bulls and bears.
UTSI looks great here flagging nicely on low volume. Today it tested the $2.52 high and formed a doji, a sign of indecision. If it can break out above $2.52 on volume, its all clear skies ahead!
PMI broke out nicely on Friday but today got stuck at the June highs and has pulled back to some support around the low $4's. Today's candle formed a dark cloud cover, which penetrated below half of yesterday's candle, which could be a signal of a short term reversal for now. However, major moving averages are acting as support right below so there is a battle right now between the bulls and bears.
UTSI looks great here flagging nicely on low volume. Today it tested the $2.52 high and formed a doji, a sign of indecision. If it can break out above $2.52 on volume, its all clear skies ahead!
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