Alex_Quiroga
Long

Clearly a trending stock in the Services Industry

NASDAQ:MLCO   MELCO RESORTS & ENTERTAINMENT LIMITED - AMERICAN DEPOSITARY SHARES
This idea is very different than other ideas I share in the past because this is not a double bottom in progress. This is a running trend that is making higher highs and higher lows in a very recognizable way. But as the stock goes up, the price too, and is becoming more expensive in tandem with the PE Ratio. In cases like this the idea or concept behind this is buy something expensive and expect to sell it at a higher price in the future like any other business.
(The PE Ratio is 49.38) looks high? It depends and in this case It does not depend on what I say because I'm not an authority on this subject, topics like stock valuation and financial modeling are not my specialty and here is where sometimes technical analysis collide with fundamental analysis . The intention here is make money thinking and acting like an opportunist who make money without be too sophisticated but that establishes in advance how much he may be willing to lose and accepts what the market gives him.
My ideas are for a long term investing, buy and hold for several months, Americans call this a swing trade. And not for buy and hold for 10 years. In this case the fundamentals do not need to be very strong or strict
The other aspect I like this pick or stock pitch is that this company is categorized in the Consumer Services Industry and leading companies in this Industry and in the same sector are having a good moment to be more specific Restaurants and Hotels are having a good year and the past years too.
Now go to the technical aspect: What is making?: the stock is trending. what can I identify?: support and resistance zones
five weeks ago the price broke a resistance line in the 24.60 level with a big green weekly candle and now the price is consolidating, the idea here is to wait for some kind of retracement for entry at a better price, because I do not use indicators in this case I work with the moving averages and I employ they like a referent point when the price is more close to the red and blue moving averages is the time to entry. The price target is 44.00 based in past resistance.
Daily chart for the details
https://www.tradingview.com/chart/VEIBUXco/
I try not to use too much technical jargon because my intention is not to impress anyone and by the way that does not eliminate the uncertainty.

Weekly charts are boring, Not for me :(
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