MPEL on fire this morning, probably on this Macau govt push for mass play, non-gaming a plus: IMF http://www.ggrasia.com/macau-govt-push-for-mass-play-non-gaming-a-plus-imf/
Expectations are high in Macau as MPEL and WYNN lead the Big 4. Are me and @rg7803 the only one's playing this
Analyst Upgrade/Downgrade Update Brokerage firm: Credit Suisse Change: Upgrade Previous Rating: Neutral Current Rating: Outperform Previous Price Target: N/A Current Price Target: N/A
MPEL has picked up speed as the markets are pulling back. Could be in anticipation of Macau numbers to be released in the morning
MPEL dropping like a rock on this Beijing takes aim at Macau gaming industry to cut currency flight http://www.scmp.com/news/hong-kong/...aim-macau-gaming-industry-cut-currency-flight
Do you think it is going lower? Most all gaming stocks got blasted on crap ATM news plus we're on a strong upward trend line/channel.
Seems like the gaming stocks always bounce after these dips they have. I know @Tiptopptrader is the gaming stocks expert around here. If I had to guess, this looks like a good entry/support level right here, but if the markets go south, it good dip down further to the 200MA maybe. I'd make a play here though if I was bullish on gaming. I'm currently uninvolved though.
Melco Crown Most Underrated Macau Stock: Bernstein Melco Crown Entertainment (MLP) is one of the most undervalued stocks in the gaming sector as Macau appears on track to post its fifth consecutive month of gains, according to analysts at Bernstein. Bernstein has an "outperform" rating and $21.50 price target on the company's shares, a potential upside of 28% over the stock's previous closing price. The stock is up 3.15% to $17.33 in afternoon trading Tuesday. "MPEL is the most undervalued stock in our coverage. The company is one of the premier Premium Mass operators in Macau," analysts Vitaly Umansky, Zhen Gong, and Yang Zie wrote in their note. "Key catalysts include stronger ramp up at Studio City, City of Dreams successfully defending its position in Premium Mass, and an eventual buyout of the minority in Studio City." https://www.thestreet.com/story/139...u-stock-bernstein.html?puc=yahoo&cm_ven=YAHOO
With the mass market in Macau expected to climb in 2017, MPEL leads the Big 4 along with LVS with the markets red
Those Jan 20 Calls are lookin' sweet today! Almost up 100% from my entry. EDIT: MPEL up to 17.86 as I type
Melco Slips 7% As Macau Casino Founders Sell http://blogs.barrons.com/emergingma...sino-founders-sell/?mod=yahoobarrons&ru=yahoo Hopefully it will pick back up.
@Tiptopptrader Do you think this is a potential entry point for a strong next year? Or you think we should wait for another week and wait for things to stabilize?
I'm not an expert on this one, but it's sitting at multiple support levels IMO. See the 2 white lines in the picture below. It just broke below the 200MA which is pretty bearish though, so it's hard to tell.
