After Yesterday's Rally of 7.24% Shares Could Potentially Pullback
Melco Crown Entertainment (NASDAQ:MPEL) traded in a range yesterday that spanned from a low of $13.65 to a high of $14.08. Yesterday, the shares gained 7.2%, which took the trading range above the 3-day high of $13.51 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend is monitoring the recent change of momentum in Melco Crown Entertainment. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Melco Crown Entertainment in search of a potential trend change.
In the past 52 weeks, shares of Melco Crown Entertainment have traded between a low of $11.90 and a high of $45.70 and are now at $13.85, which is 16% above that low price. The 200-day and 50-day moving averages have moved 0.66% lower and 0.4% lower over the past week, respectively.
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