Bearish Moving Average Cross by Melco Crown Entertainment (MPEL)
Today, shares of Melco Crown Entertainment (NASDAQ:MPEL) have fallen below their 10-day MA of $14.99 on a volume of 516K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Melco Crown Entertainment share prices have moved between a 52-week high of $45.70 and a 52-week low of $12.05 and are now trading 23% above that low price at $14.78 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.7%.
SmarTrend is tracking the current trend status for Melco Crown Entertainment and will alert subscribers who have MPEL in their portfolio or watchlist when shares have changed trend direction.
Keywords: moving crosses melco crown entertainment