Melco Crown Entertainment Limited (MPEL) has been under a strong bear grip, hence the stock is down -6.25% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.03% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.66% in the last 1 week, and is up 0.08% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Melco Crown Entertainment Limited (NASDAQ:MPEL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.67 and $12.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.76. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.74, notching a gain of 1.11% for the day. The total traded volume was 1,397,747 . The stock had closed at $12.60 on the previous day.
The stock has recorded a 20-day Moving Average of 1.85% and the 50-Day Moving Average is 5.77%. Melco Crown Entertainment Limited has dropped 17.58% during the last 3-month period . Year-to-Date the stock performance stands at -20.86%.
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.