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 17.64% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.13%, 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 6.19% in the last 1 week, and is up 18.86% 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 9.09% and the 50-Day Moving Average is 10.68%. Melco Crown Entertainment Limited (NASDAQ:MPEL): On Fridays trading session , Opening price of the stock was $14.7 with an intraday high of $14.79. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $14.55. However, the stock managed to close at $14.75, a loss of 0.27% for the day. On the previous day, the stock had closed at $14.79. The total traded volume of the day was 1,831,965 shares.
Institutional Investors own 27.85% of Melco Crown Entertainment Limited shares. Also, Buckingham Research initiates coverage on Melco Crown Entertainment Limited (NASDAQ:MPEL) . Analysts at the Buckingham Research have a current rating of Neutral on the shares. The rating by the firm was issued on August 11, 2016.
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.