Shares of Melco Crown Entertainment Has Risen Above Previous 52-Week High
Shares of Melco Crown Entertainment (NASDAQ:MPEL) traded at a new 52-week high today of $36.11. So far today approximately 1.2 million shares have been exchanged, as compared to an average 30-day volume of 2.9 million shares.
There is potential upside of 5.2% for shares of Melco Crown Entertainment based on a current price of $35.60 and an average consensus analyst price target of $37.46. The stock should find initial support at its 50-day moving average (MA) of $29.92 and further support at its 200-day MA of $24.20.
Melco Crown Entertainment. Ltd. develops, owns and operates casino gaming and entertainment resort facilities.
Over the past year, Melco Crown Entertainment has traded in a range of $12.74 to $36.11 and is now at $35.60, 179% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.5% while the 50-day MA has advanced 2.3%.
SmarTrend recommended that subscribers consider buying shares of Melco Crown Entertainment on July 17th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.60. Since that recommendation, shares of Melco Crown Entertainment have risen 47.4%. We continue to monitor MPEL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows melco crown entertainment