Melco Crown Entertainment Limited (MPEL) : Traders are bullish on Melco Crown Entertainment Limited (MPEL) as it has outperformed the S&P 500 by a wide margin of 14.79% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.41%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.58% in the last 1 week, and is up 14.17% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.23% and the 50-Day Moving Average is 11.4%.The 200 Day SMA reached 10.55%
Melco Crown Entertainment Limited (NASDAQ:MPEL): After opening at $15.89, the stock dipped to an intraday low of $15.755 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $16.17 and the buying power remained strong till the end. The stock closed at $16.11 for the day, a gain of 0.56% for the day session. The total traded volume was 1,715,460. The stocks close on the previous trading day was $16.11.
Melco Crown Entertainment Limited (MPEL) : 4 investment research analysts covering Melco Crown Entertainment Limited (MPEL) have an average price target of $16.75 for the near short term. The highest target price given by the Brokerage Firm to the stock is $21 and the lowest target is $14 for the short term. Analysts expect the variance to be within $3.01 of the average price.
Melco Crown Entertainment Limited is a developer, owner and operator of casino gaming and entertainment resort facilities. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in two geographic areas: Macau and the Philippines. The Company has two casino based operations in Macau, namely, City of Dreams and Altira Macau, and non-casino based operations in Macau at its Mocha Clubs. The Company also has a casino based operation in the Philippines, City of Dreams Manila. The Company is developing the Studio City project, a cinematically-themed integrated entertainment, retail and gaming resort. The Companys other premises include Taipa Square Casino, a casino on Taipa Island, Macau operating within Hotel Taipa Square, including the fit-out and gaming related equipment.