MLCO Technical Analysis - MELCO RESORTS & ENTERT-ADR

Technical Rating and Analysis

Overall MLCO gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MLCO is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

When comparing the yearly performance of all stocks, we notice that MLCO is one of the better performing stocks in the market, outperforming 92% of all stocks.

MLCO is one of the better performing stocks in the Hotels, Restaurants & Leisure industry, it outperforms 94% of 133 stocks in the same industry.

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 is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

MLCO has an average volume of 2911540 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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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

MLCO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 9.70, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

8.42

10.24

We found 2 important support areas.

A support zone ranging from 9.60 to 9.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 8.51 to 8.56. This zone is formed by a combination of multiple trend lines in multiple time frames.

We found 1 important resistance area.

Resistance @10.14 from a horizontal line in the daily time frame.

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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	UP	POSITIVE	The short term trend for MLCO is up.
ChartMill Relative Strength	92.64	POSITIVE	MLCO has a high relative strength, it outperformed 92.64% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MLCO is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of MLCO is above the rising 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)	57.61	NEUTRAL	The RSI value for MLCO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.05	NEGATIVE	The MACD value suggests MLCO has a negative trend.
Stochastics (14,3)	56.06	NEUTRAL	The Stochastics value for MLCO is a neutral value.
Average True Range in percent/ATR (20)	3.02	MEDIUM VOLATILITY	The ATR as a percentage value for MLCO suggests some volalility.
Average Directional Index/ADX (14)	24.97	NEUTRAL	The ADX value for MLCO suggests a possible start of a new trend.