Downgrade Alert for Melco Crown Entertainment (MPEL)
Melco Crown Entertainment (NASDAQ:MPEL) was downgraded from Overweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $14.01 on volume of 3.7 million shares, above average daily volume of 2.9 million.
Melco Crown Entertainment. Ltd. develops, owns and operates casino gaming and entertainment resort facilities.
Melco Crown Entertainment share prices have moved between a 52-week high of $45.70 and a 52-week low of $12.05 and closed yesterday at 16% above that low price at $14.01 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.4%.
Melco Crown Entertainment (NASDAQ:MPEL) has potential upside of 49.5% based on a current price of $14.01 and analysts' consensus price target of $20.94. The stock should run into initial resistance at its 50-day moving average (MA) of $15.95 and subsequent resistance at its 200-day MA of $16.75.
SmarTrend recommended that its subscribers protect gains by selling shares of Melco Crown Entertainment on April 25th, 2016 by issuing a Downtrend alert when the shares were trading at $15.04. Since that call, shares of Melco Crown Entertainment have fallen 4.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades melco crown entertainment