Shares of Melco Crown Entertainment Has Risen Above Previous 52-Week High
Melco Crown Entertainment (NASDAQ:MPEL) traded at a new 52-week high today of $21.39. This new high was reached on below average trading volume as 912,000 shares traded hands, while the average 30-day volume is approximately 4.7 million shares.
There is potential upside of 1.4% for shares of Melco Crown Entertainment based on a current price of $21.29 and an average consensus analyst price target of $21.59. The stock should discover initial support at its 50-day moving average (MA) of $17.44 and subsequent support at its 200-day MA of $13.74.
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 $7.05 to $21.39 and is now at $21.29, 202% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 3.9%.
SmarTrend recommended that subscribers consider buying shares of Melco Crown Entertainment on August 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.05. Since that recommendation, shares of Melco Crown Entertainment have risen 90.3%. 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