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SmarTrend Watching for Potential Pullback in Shares of Melco Crown Entertainment After 1.53% Gain

By David Diaz

Melco Crown Entertainment (NASDAQ:MPEL) traded in a range yesterday that spanned from a low of $15.34 to a high of $16.10. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $15.70 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Melco Crown Entertainment share prices have been bracketed by a low of $11.90 and a high of $45.70 and are now at $15.87, 33% 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.

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: rebounders melco crown entertainment

Ticker(s): MPEL