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Jun 16, 2021 1:04 AM

MLCO Long, watch for move under $15 Long

Melco Resorts & Entertainment LimitedNASDAQ

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Hey there, learning more about Wyckoff and starting to understand the pattern. Putting this out there to remember and look at in a few months.

MLCO appears to be going through an accumulation and is dropping back down to the support zone slower and slower. This is followed by a pop down low before springing up, testing resistance a few times, and then waving up to the higher price point where COs can release shares back into the market. So, my theory is, if it pops under $15, buy and hold for a few months on the ride up.

If you've been studying Wyckoff for more than a week, please correct me
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