--Financial Tools ---Futures Market---ADD HERE LINK-- OPTION ALERTS --BENZINGA--

« Home | Stock Market Ideas for Tuesday - Citigroup and Cur... » | Hot Stocks to Watch next week - American Oriental ... » | Stock Market Ideas for Friday - Melco Crown Entert... » | US hot stocks for tomorrow - EarthLink, Inc. and J... » | Stock Market Ideas for Wednesday - JDS Uniphase Co... » | Hot stocks for Tuesday - General Electric Company ... » | US stocks to watch next week : Yahoo , Rambus and ... » | Stock Market Ideas for Friday - Juniper Networks a... » | Stock Market Ideas for Thursday - Melco Crown Ente... » | Hot Stocks to Watch - JDS Uniphase Corporation , R... » 

Tuesday, September 22, 2009 

Hot casinos stocks - Melco Crown Entertainment Ltd and Wynn Resorts

The casino stocks might prove to be a good bet in the coming weeks. They are lot of good news coming to the market that put some fuel in investors mind to bet in some remarkable names, such as Wynn Resorts Ltd , Melco Crown Entertainment Ltd. and Las Vegas Sands. According to Bloomberg, Macau will limit the commissions paid to junket operators to 1.25 percent of the betting chips purchased by high rollers, which could boost casino operator’s earnings from now on. I still technically covering some of these names over the recent days with a Bullish bias and I expect that can continue till the end of year. Most of these stocks are now in Breakout mode, therefore buying on deeps seems to be the best bet. It does not matter if they have doubled since March low, the casino stocks can move much higher from here. The trend is your friend until it ends.

( click to enlarge )

MPEL had a very bullish move today breaking several resistance lines with large volume. The stock broke out of a range, as the stock set new highs for 2009. This could be the start of a bigger move, which his why I'm watching the stock on Friday. Today’s high of $8.06 is resistance for the next upside move. The technical daily chart shows the stock is still in bull market as both 50 day and 200 day moving average are going up with MACD still above 0.

( click to enlarge )

The outlook remains bullish and the stock appears on course to move to the target zone of the 79-80 range. A break above 73.80 would confirm the possibility of a move up to the target price of 80. On the other hand, a decline below Rs 65.30 would blunt such a possibility. The technical daily chart shows the stock is in a strong bull market with 50 day moving average on top over 200 day moving average and MACD is above signal line.

Other Stocks to Watch :

Today's candlestick pattern was a Bullish Engulfing

LPX - LOUISIANA PACIFIC CORP
GSAT - Globalstar Inc
LBIX - Leading Brands Inc
VISN - VisionChina Media Inc
FRGB - First Regional Bancorp
MRVC - Mrv Comm Inc
WIT - Wipro Ltd
USAT - USA Technologies Inc

Today's candlestick pattern was a Bearish Engulfing

ORCL - Oracle Corporation
CMCSA - Comcast Corporation
AMGN - Amgen Inc.
USB - US Bancorp
TXN - TEXAS INSTRUMENTS INC
SYMC - Symantec Corporation
TEVA - Teva Pharmaceuticals
LUV - SOUTHWEST AIRLINES CO
XLNX - Xilinx, Inc.
CAG - CONAGRA INC
TGT - TARGET CORP
HOLX - Hologic, Inc.
MON - Monsanto Co
BBI - Blockbuster Inc
CI - C I G N A CORP
WLP - Wellpoint Inc
TIBX - TIBCO Software, Inc.
IMMU - Immunomedics, Inc.
CPWR - Compuware Corporation
PGR - PROGRESSIVE CORP
HYTM - HYTHIAM INC
QGEN - Qiagen N.V.
SHLD - KMart Corp
K - KELLOGG CO
SOA - Solutia Inc
DIOD - Diodes Incorporated
ABAT - Buy It Cheap.com Inc

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you tomorrow...
Cheers!

AC

Labels: ,

Bookmark and Share

Contact

About Me

    Photobucket
  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

  • Benzinga.com supporter

    Stockal supporter

    Benzinga.com supporter



    FREE NEWSLETTER

      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal

    Advertising

      Interested in advertising on AC Investor Blog ? Click Here

    RECOMMENDED



    TRANSLATOR

    Site Information

    Stock Market Blogroll

    Friends BLOGROLL

    ARCHIVES

Powered by Blogger
and Blogger Templates


Add to Google