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Stock Market & Financial Investment News

News Breaks
August 6, 2014
15:18 EDTMPELMelco Crown technical remarks ahead of earnings
In the prior three months the shares have broadly underperformed the broader averages, falling over 16% including today's drop in price. The move today has put the shares right at the $30 area, which is critical for the longer-view technical health of the shares. While there has been a sharp decline from peak price earlier this year at $45.70, a breakdown below $30 would turn the long-term trend to bearish. If there is negative news, particularly concerning Macau operations where the company is heavily focused, the shares could fall further. Next support below $30 would be at $28,74, $26.53, and $25.53 which is the 52-week low. If the news is better than expected, resistance levels to watch as potential upside objectives would be at $31.97, $35.31, and $36.84. There is a minimal short-base in the name which could exacerbate downside in the event that news is more negative than anticipated.
News For MPEL From The Last 14 Days
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September 1, 2015
07:03 EDTMPELMacau reports August casino revenue down 35.5% to 18.62B patacas
Information on monthly gross revenue from games of fortune published on Macau government website. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).

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