MLCO Technical Analysis - MELCO RESORTS & ENTERT-ADR

Technical Rating and Analysis

We assign a technical rating of 3 out of 10 to MLCO. MLCO has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.

In the last month MLCO has a been trading in the 8.26 - 9.97 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

MLCO is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MLCO is lagging the market slightly.

MLCO has an average volume of 2710540 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

When comparing the performance of all stocks over the past year, MLCO turns out to be only a medium performer in the overall market: it outperformed 48% of all stocks.

MLCO is an average performer in the Hotels, Restaurants & Leisure industry, it outperforms 66% of 135 stocks in the same industry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MELCO RESORTS & ENTERT-ADR / MLCO Weekly stock chart

MELCO RESORTS & ENTERT-ADR / MLCO Daily stock chart

Setup Rating and Analysis

The technical rating of MLCO is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

8.34

8.61

We found 1 important support area.

A support zone ranging from 8.42 to 8.42. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for MLCO is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MLCO is down.
ChartMill Relative Strength	48.69	NEUTRAL	MLCO is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MLCO is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MLCO is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of MLCO is above the rising SMA(200).
Relative Strength Index/RSI (14)	34.24	NEUTRAL	The RSI value for MLCO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.16	NEGATIVE	The MACD value suggests MLCO has a negative trend.
Stochastics (14,3)	9.08	OVERSOLD	The low Stochastics value suggests MLCO may be oversold.
Average True Range in percent/ATR (20)	3.62	MEDIUM VOLATILITY	The ATR as a percentage value for MLCO suggests some volalility.
Average Directional Index/ADX (14)	21.32	NEUTRAL	The ADX value for MLCO suggests a possible start of a new trend.