Macau gambling giant Melco Resorts & Entertainment surged last winter as China reopened from coronavirus lockdowns. It’s consolidated since, and now some traders may see potential for more upside.
The first pattern on today’s chart is the December 7 close of $10.40. MLCO remained above that level over the next five months. Prices touched support on May 24,...
NASDAQ:MLCO achieved or almost achieved a bottom.
As per my observation and conclusions, it can go long, but firstly it should raise the flag, that it's ready to proceed wit hthis deal. What we have to see? Movinng to 19 during the next 3-4 months. This will mean, that it broke the descending line and has a fat for the next jumps.
I believe, it will show a...
NASDAQ:MLCO
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...
MLCO has been in down trend descending wedge (some people may take it as triangle) and just bounced off of 100% fib extension of $9.57.
The $9.57 is a very critical area for the stock. If $9.57 support fails, the stock can fall to $2.88 with little support in between.
For bullish traders, you would want to see 9.57 holds and stock travel up to the upper trend...
Casino season is here, it's time to focus on outdoor entertainment and casino stocks.
MLCO has a very bullish setup.
BlueWave is giving us a sold setup, will give Green Dot buy signal soon
Stochastic RSI is also Oversold
The current price is setting in a strong Support Area.
Maks sure to like and follow.
Hey there, learning more about Wyckoff and starting to understand the pattern. Putting this out there to remember and look at in a few months.
MLCO appears to be going through an accumulation and is dropping back down to the support zone slower and slower. This is followed by a pop down low before springing up, testing resistance a few times, and then waving up...
NASDAQ:MLCO
Possible Scenario: LONG
Evidence: Price Action
TP1~ 19$.
TP2 ~20.50$
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%
NASDAQ:MLCO
Possible Scenario: LONG
Evidence: Price Action
Call options, Strike 19$, 16/07/21
very nice set-up minimum 10% profit
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...
Melco Resorts hit the resistance yesterday and formed spinning top which acts randomly. RSI did a higher high which might be a signal to rise up despite price action.
