Stock futures continue gaining as the end of the week near

The bullish pressure in the stock market has not subsided yet. At the current time, DJIA futures are up nearly 100 points which signals a more bullish day. Traders will continue to hold long positions in stocks under the current situation while waiting for a bearish pullback for a chance to add more long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hanging near the high and not showing signs of weakness yet. The index might continue the bullish movement and target a new higher swing high. However, if the index starts a bearish correction then traders could wait near the daily SMA 100 for a chance to enter long positions.

MGM Resorts International (MGM)

MGM share prices managed to break out from the double bottom pattern and currently have daily SMA 200 as an upward target. The share prices might test the cluster of averages and turn slightly lower after that. Traders could wait near the neckline of the double bottom pattern for a chance to enter long positions.