CROWNing glory for MELCO?

The Hammer last Friday and the confirmation yesterday signaled the reversal for MCP which rallied today by 5.90% to close at 11.12 per share. Based on our chart we could see that price crossed the Kijun Sen line and occurred above the Kumo. Based on Ichimoku signal this is a strong bullish signal. Price is now going towards the 50% Fibonacci Retracement level which is around 12.50 Could a 15 per share be achievable this month of October?


Leave a Reply