RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MLCO
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Melco Resorts & Entertainment Ltd stock price up 0.418% on Thursday
(Updated on Mar 28, 2024)

Sell candidate since Feb 27, 2024 Loss -13.45% PDF

The Melco Resorts & Entertainment Ltd stock price gained 0.418% on the last trading day (Thursday, 28th Mar 2024), rising from $7.18 to $7.21. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.65% from a day low at $7.17 to a day high of $7.36. The price has fallen in 6 of the last 10 days and is down by -1.23% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 570 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $12.29 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.31% during the next 3 months and, with a 90% probability hold a price between $5.04 and $6.99 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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MLCO Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 5.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Melco Resorts & Entertainment Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.82. On a fall, the stock will find some support from the short-term average at $7.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Melco Resorts & Entertainment Ltd stock

Melco Resorts & Entertainment Ltd finds support from accumulated volume at $7.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.190 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 2.83%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MLCO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Melco Resorts & Entertainment Ltd to open at $7.25, and during the day (based on 14 day Average True Range), to move between $6.91 and $7.51, which gives a possible trading interval of +/-$0.301 (+/-4.17%) up or down from last closing price. If Melco Resorts & Entertainment Ltd takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.30 (1.25%) than the support at $7.12 (1.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Melco Resorts & Entertainment Ltd stock A Buy?

Melco Resorts & Entertainment Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.137 Sell Candidate Unchanged

Predicted Opening Price for Melco Resorts & Entertainment Ltd of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$7.25 ( 0.509%) $7.21

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MLCO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 7.44 3.14 %
R2 7.36 2.14 %
R1 7.32 1.52 %
Current price: 7.21
Support S1 7.17 -0.498 %
S2 7.13 -1.12 %
S3 7.06 -2.13 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 8.59 19.14 %
R2 7.73 7.21 %
R1 7.30 1.25 %
Current price 7.21
Support S1 7.12 -1.25%
S2 7.10 -1.53%
S3 6.98 -3.19%

MLCO Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 21, 2020 Feb 28, 2020 Mar 12, 2020 $0.165 1.15%
2 Oct 30, 2019 Nov 08, 2019 Nov 22, 2019 $0.165 0.762%
3 Jul 24, 2019 Aug 02, 2019 Aug 15, 2019 $0.165 0.86%
4 May 08, 2019 May 17, 2019 May 30, 2019 $0.155 0.785%
5 Feb 19, 2019 Mar 01, 2019 Mar 14, 2019 $0.155 0.693%

FAQ

What is the symbol for Melco Resorts & Entertainment Ltd Stock and on which exchange is it traded?
The symbol for Melco Resorts & Entertainment Ltd is MLCO and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Melco Resorts & Entertainment Ltd Stock?
Melco Resorts & Entertainment Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

How to buy Melco Resorts & Entertainment Ltd Stock?
Melco Resorts & Entertainment Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Melco Resorts & Entertainment Ltd Stock.

What's the current price of Melco Resorts & Entertainment Ltd Stock?
As of the end of day on the 2024-03-28, the price of an Melco Resorts & Entertainment Ltd (MLCO) share was $7.21.

What is the 52-week high and low for Melco Resorts & Entertainment Ltd Stock?
The 52-week high for Melco Resorts & Entertainment Ltd Stock is $14.46 and the 52-week low is $6.62.

What is the market capitalization of Melco Resorts & Entertainment Ltd Stock?
As of the 2024-03-28, the market capitalization of Melco Resorts & Entertainment Ltd is 3.151B.

When is the next earnings date for Melco Resorts & Entertainment Ltd?
The upcoming earnings date for Melco Resorts & Entertainment Ltd is May 08, 2024.
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About Melco Resorts & Entertainment Ltd

Melco Resorts & Entertainment Ltd Melco Resorts & Entertainment Limited develops, owns, and operates casino gaming and resort facilities in Asia and Europe. It owns and operates City of Dreams, an integrated casino resort that has approximately 511 gaming tables and 572 gaming machines; approximately 770 rooms, and suites and villas; approximately 25 restaurants and bars, and 165 retail outlets; and health and fitness clubs, three swimming pools, spa and salons, and banquet and m... MLCO Profile

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