After we saw a high call volume in the last days and the stock is close to break out above 12 $. It can be also an interesting setup for option traders with a strangle or straddle position to profit for a breakout in both directions.
Melco announces the start of a new gaming concession
Melco Resorts & Entertainment Limited Starts Ten-Year Concession...
Casino season is here, it's time to focus on outdoor entertainment and casino stocks.
MLCO has a very bullish setup.
BlueWave is giving us a sold setup, will give Green Dot buy signal soon
Stochastic RSI is also Oversold
The current price is setting in a strong Support Area.
Maks sure to like and follow.
Possible Scenario: LONG
Evidence: Price Action
TP3 ~ 22$
Call options, Strike 18$, 10/15/21 Conservative
Call options, Strike 20$, 07/16/21 Normal
* This is my idea and could be wrong 100%
MLCO has been trading very emotionally during COVID 19 and has bounced between support and resistance nicely. As we approach potential for vaccine and retail preforms this company could continue to post higher revenues as it recovers from Covid-19. After the earnings beat the stock jumped and saw prompt selling and price has pushed back down to the Gap/Imbalance...
NASDAQ:MLCO is currently at an important historical level. CCI broke -300 for the first time this year earlier this year. YTD breaks below -200 have resulted in quick thrashes to the upside followed by some consolidation (with the exception of COVID-19 drop, will address that). A break in 16.07 support will not be the end of the world for MLCO, with the drop...
$MLCO is trading at trendline support and is a good play for investors in the gaming sector. Macau is open and will bounce back quicker than Vegas. $MLCO has no exposure to Vegas as its properties are in Macau and the Philippines.
The company is also not overly leveraged and trades at 2.45x book and 4.6x cash.
Melco Resorts & Entertainment Limited, through its...
Melco Resorts & Entertainment Ltd. (NYSE: MLCO)
tradingforaliving: "Jeden z największych operatorów kasyn i hoteli w chińskim hazardowym eldorado, czyli w Makao, które jest azjatyckim odpowiednikiem Las Vegas. Firma pochodzi z Hongkongu, zatrudnia ponad dwadzieścia jeden tysięcy osób i prawie 90% zysku generuje poprzez hotele i kasyna działające w Makao, a...
$MLCO Melco Resorts - forming a bullish hammer candlestick on the weekly chart. Another gaming stock possibly finding a bottom at a long term support level ($16.00) with RSI in oversold territory. Earnings expected early November - assuming a positive report, targeting $24 by January-February.
Note: Informational analysis, not investment advice.