Melco Resorts and Entertainment Philippines Corporation (MRP) is formerly known as Melco Crown (Philippines) Resorts Corporation. SEC granted a change in the company name on May 19, 2017.
Melco is one of the companies who partnered in the development of City of Dreams Manila, an integrated hotel, gaming, retail, and entertainment complex in Pasay City.
Market Cap: PHP 39.95 billion
Sector: Services
Subsector: Casino & Gaming
Earnings Highlights:
- Revenues rose by 39.87 percent to PHP 32.76 billion in 2017 versus 2016.
- The company earned a net income attributable to parent of PHP 353.92 million in 2017
Earlier, MRP released its financial performance for the second quarter of 2018. Revenues of City of Dreams Manila stood at USD 173.90 million, lower by 1.31 percent versus the recorded USD 176.20 million in the same period last year.
This decline was mainly attributable to higher commissions reported as a reduction in revenue. It is in compliance with the new revenue recognition standard issued by the Financial Accounting Standards Board (FASB).
However, it was partially offset by improved gross gaming revenue which was applied retrospectively since January 1, 2018. Without this new standard, City of Dreams would have seen revenues of USD 191.0 million, higher by 8 percent versus the prior period.
Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) totaled USD 87.30 million compared to USD 62.8 million in 2017. It was primarily due to better performance in all gaming segments.
Additional performance indicators of the company are given below:
MRP has been rising for quite some time. The 15 EMA has already made a bullish crossover with the 50 SMA.
The 20 SMA is poised to do the same. The 200 SMA though stopped the rally today and acted as resistance.
Moreover, Volume supported the rally and showed support for the bulls. MACD is bullish. RSI is also bullish but is at overbought levels. Support is estimated at 6.34 while resistance is expected at 7.30 followed by 7.77.
Volume
As of July 25, 2018, at 03:30 PM, the volume of MRP is 693.06% of the previous trading day.
Remember the correlation between price and volume.
- bullish price + high volume = high sustainability (price)
- bullish price + low volume = low sustainability (price)
- bearish price + high volume = high sustainability (price)
- bearish price + low volume = low sustainability (price)
Risk Level
MRP has a MODERATE RISK level due to its risk percentage of 54.18%.
Foreign Fund Flow
MRP registered a Net Foreign Buying worth P25,685,479.00 as of July 25, 2018.
On a 30-day trading period, MRP is on a Net Foreign Buying worth PHP209,089,935.00.
Top 10 Players’ Sentiment
Trading participants of MRP with a 100% Buying and Selling Activity as of Jul-25-2018 at 03:30 PM:
7 out of 63 participants or 11.11% of all participants registered a 100% BUYING activity
26 out of 63 participants or 41.27% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 6.8602
Top 10 Players’ Selling Average: 6.8917
The psychological average price of the top 10 players as of Jul-25-2018 is from 6.8602 to 6.8917.
What Is the Importance of Knowing the Top 10 Players’ Sentiment?
You need to know the psychological average price of the top 10 brokers who have traded a specific stock within a specific time period.
You need to know the buying average of the top 10 brokers who have traded a specific stock within a specific time period.
You need to know the selling average of the top 10 brokers who have traded a specific stock within a specific time period.
You need to know how many brokers, out of all the brokers who have traded a specific stock within a specific time period, registered a 100% buying activity.
You need to know how many brokers, out of all the brokers who have traded a specific stock within a specific time period, registered a 100% selling activity.
The buying and selling averages of the top 10 brokers are a sneak preview of the range of their collective average price.
If you know the psychological average price of the top 10 brokers who have traded a stock, you can calculate in your mind how much more can they probably afford to hold, relative to their collective risk tolerance, should the stock’s price go south.
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