Based off what i saw on the charts when it hit 16.00 per share it was a triple top break out... meaning the bottom of the pattern was around 9.60 abd the top was 16.00... difference between the two is where it is supposed to go in the right conditions... that would be $6.40 + 16.00... 22.40 per share is the top of this run... i would be cautious around 21.00.... Good luck to all.... been a long term holder since finding this stock around $4 avg... so at this point its all profit, no need to sell since i took the original off the table about a year ago... but if you want to sell, that should be the resistance...
Well you say it cannot go from $20-30 in a couple of months but if you look at LVS and Wynn for example and once they got costs under control and showed 3 straight quarters of solid profits that is exactly what happen tripled in 3 months back the charts up.
I have been a long time holder of mpel also from average of $4.20.
The news that changes the direction of this stock really has not come out but is on the very near term future. This month we will get the the value from the Philippine listing of the casino, also the first casino Solare opens next month so we will get a good idea of how much these really will pull in as far as cash.
February will be a almighty record for mpel and Macau in general and for reason from my other post earlier we will now see a obvious trend setting of the day trip mass that start to make the choice to spend their day on soely Cotai instead of the Peninsular.
If there is any announcement on tables granted to MSC that would but $3-4 on this stock alone, I also think we are not far away from Japan making some announcement and I truly believe that is why their is a stall tactic on LVS part not to announce building in Madrid. I think Mpel have a great chance to build there (japan) on a 50/50 deal with Sy or go it alone, as I believe 4-6 concessionaires will be granted in Japan. How much will that be worth? I am holding my stock I have a price in mind but it is nowhere near there yet I believe we are far from done on this run to May..... JMHO
Just a reminder on what is most likely gonna happen from the charts.... I believe if earnings are good, we could hit top end of this rally $22.40. After that, profit taking for sure, back to a low of 16 or 18, depending on the market sentiment.
As mentioned awhile ago, this may be a classic sell the news with a run this good, is it worth the risk for $1 more per share? if so, hang on through earnings, if not sell a little on Monday around the $21 mark and sit tight... its not like this thing can go from 16 to 30 in 2 months.... dont get caught in the hype...