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Shares of Melco Crown Entertainment Rise Above Previous 52-Week High

Published on Fri, 02/01/2013 - 15:27
By Adrienne Chilton

Melco Crown Entertainment (NASDAQ:MPEL) traded today at a new 52-week high of $21.25. So far today approximately 5.4 million shares have been exchanged, as compared to an average 30-day volume of 4.7 million shares.

Melco Crown Entertainment (NASDAQ:MPEL) has potential upside of 1.7% based on a current price of $21.22 and analysts' consensus price target of $21.59. The stock should discover initial support at its 50-day moving average (MA) of $17.31 and subsequent support at its 200-day MA of $13.71.

Melco Crown Entertainment. Ltd. develops, owns and operates casino gaming and entertainment resort facilities.

Melco Crown Entertainment share prices have moved between a 52-week high of $21.25 and a 52-week low of $7.05 and are now trading 201% above that low price at $21.22 per share. The 200-day and 50-day moving averages have moved 0.97% higher and 3.09% higher over the past week, respectively.

By Adrienne Chilton