Does Melco Resorts & Entertainment Limited (MLCO) Have More Gas After Reaching 52-Week High?

May 7, 2018 - By Adrian Mccoy

The stock of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) hit a new 52-week high and has $35.40 target or 9.00 % above today’s $32.48 share price. The 6 months bullish chart indicates low risk for the $15.91B company. The 1-year high was reported on May, 7 by Barchart.com. If the $35.40 price target is reached, the company will be worth $1.43B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.43% or $0.14 during the last trading session, reaching $32.48. About 1.08M shares traded. Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has risen 50.79% since May 7, 2017 and is uptrending. It has outperformed by 39.24% the S&P500.

More news for Melco Resorts & Entertainment Limited (NASDAQ:MLCO) were recently published by: Seekingalpha.com, which released: “Melco dips into eSports” on April 23, 2018. Globenewswire.com‘s article titled: “Melco Announces Earnings Release Date” and published on April 26, 2018 is yet another important article.

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. The company has market cap of $15.91 billion. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities. It has a 46.07 P/E ratio. The firm also operates Altira Macau, a casino hotel, which has approximately 112 gaming tables and 56 gaming machines; 230 hotel rooms; various fine dining and casual restaurants, and recreation and leisure facilities; and various non-gaming amenities comprising spa, gymnasium, outdoor garden podium, and sky terrace lounge.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Ratings Chart

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