MELCO RESORTS & ENTERTAINMENT - Daily - Technical analysis published on 07/17/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 23.64 USD
My targets
25.58 USD (+5.48%)
26.62 USD (+9.77%)
My analysis
MELCO RESORTS & ENTERTAINMENT is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 23.64 USD. The next resistance located at 25.58 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 26.62 USD. After this resistance, buyers could then target 28.01 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MELCO RESORTS & ENTERTAINMENT rating 24.25 USD. The price is lower by -1.42% since the last closing and was between 24.20 USD and 24.68 USD. This implies that the price is at +0.21% from its lowest and at -1.74% from its highest.24.20
24.68
24.25
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of MELCO RESORTS & ENTERTAINMENT in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 19.79 | 21.58 | 23.64 | 24.25 | 25.58 | 26.62 | 28.01 |
| Change (%) | -18.39% | -11.01% | -2.52% | - | +5.48% | +9.77% | +15.51% |
| Change | -4.46 | -2.67 | -0.61 | - | +1.33 | +2.37 | +3.76 |
| Level | Major | Major | Major | - | Minor | Major | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 24.09 | 24.28 | 24.44 | 24.64 | 24.80 | 24.99 | 25.15 |
| Camarilla | 24.50 | 24.54 | 24.57 | 24.60 | 24.63 | 24.67 | 24.70 |
| Woodie | 24.07 | 24.27 | 24.42 | 24.63 | 24.78 | 24.98 | 25.13 |
| Fibonacci | 24.28 | 24.42 | 24.50 | 24.64 | 24.77 | 24.86 | 24.99 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.43 | 22.80 | 23.28 | 23.65 | 24.12 | 24.49 | 24.97 |
| Camarilla | 23.52 | 23.60 | 23.67 | 23.75 | 23.83 | 23.91 | 23.98 |
| Woodie | 22.48 | 22.83 | 23.33 | 23.67 | 24.17 | 24.52 | 25.02 |
| Fibonacci | 22.80 | 23.13 | 23.33 | 23.65 | 23.97 | 24.17 | 24.49 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.63 | 17.15 | 19.44 | 20.96 | 23.25 | 24.77 | 27.06 |
| Camarilla | 20.67 | 21.02 | 21.37 | 21.72 | 22.07 | 22.42 | 22.77 |
| Woodie | 16.01 | 17.34 | 19.82 | 21.15 | 23.63 | 24.96 | 27.44 |
| Fibonacci | 17.15 | 18.61 | 19.51 | 20.96 | 22.42 | 23.32 | 24.77 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 68.76 | |
| MACD (12,26,9): | 0.8300 | |
| Directional Movement: | 20.02 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 24.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.82 | |
| Elder Ray (13): | 0.93 | |
| Super Trend (3,10): | 22.96 | |
| Zig ZAG (10): | 24.20 | |
| VORTEX (21): | 1.2300 | |
| Stochastique (14,3,5): | 91.25 | |
| TEMA (21): | 24.76 | |
| Williams %R (14): | -18.42 | |
| Chande Momentum Oscillator (20): | 2.52 | |
| Repulse (5,40,3): | -1.0700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4700 | |
| Courbe Coppock: | 23.12 |
| MA7: | 24.01 | |
| MA20: | 22.86 | |
| MA50: | 21.54 | |
| MA100: | 22.78 | |
| MAexp7: | 24.02 | |
| MAexp20: | 23.03 | |
| MAexp50: | 22.40 | |
| MAexp100: | 22.21 | |
| Price / MA7: | +1.00% | |
| Price / MA20: | +6.08% | |
| Price / MA50: | +12.58% | |
| Price / MA100: | +6.45% | |
| Price / MAexp7: | +0.96% | |
| Price / MAexp20: | +5.30% | |
| Price / MAexp50: | +8.26% | |
| Price / MAexp100: | +9.19% |
News
The latest news and videos published on MELCO RESORTS & ENTERTAINMENT at the time of the analysis were as follows:
This member declared not having a position on this financial instrument or a related financial instrument.
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