Let’s take a look at MGM. It is a potential slingshot trade. For a slingshot trade you want it to be above the cloud, which MGM is. Then you want it to pull back to the turning line, touch the standard line, and then close back above the turning line.

So, you’ve got a potential slingshot trade in MGM with a potential target of 31.58.

Good luck, hope it helps. See you on the next video.