Long Entry for MLCO
MLCOAfter we saw a high call volume in the last days and the stock is close to break out above 12 $. It can be also an interesting setup for option traders with a strangle or straddle position to profit for a breakout in both directions.
Melco announces the start of a new gaming concession
Melco Resorts & Entertainment Limited Starts Ten-Year Concession for Gaming in Casinos in Macau: Melco Resorts & Entertainment Limited, a company that develops, owns and operates integrated resorts in Asia and Europe, announced today that the ten-year concession granted to Melco Resorts (Macau) Limited (a subsidiary of the Company) to conduct gaming in casinos in Macau has commenced today.
Subsidiaries of Melco Resorts & Entertainment Limited transfer gaming areas, equipment and devices to Macau SAR.Pursuant to the provisions of the Macau Gaming Law and the Concession, these areas and the equipment and devices will be transferred from the Macau Special Administrative Region to Melco Resorts Macau for use during the Concession for a fee of MOP 750.00 per square meter of the casino for years 1 to 3 of the Concession, subject to a consumer price index increase in years 2 and 3 of the Concession. The fee will increase to MOP 2,500.00 per square meter of the casino for years 4 through 10 of the Concession, subject to a consumer price index increase in years 5 through 10 of the Concession.
Stop Buy: 12.30 $
Sell Stop Loss: 10.50
Sell Profit Target: 14.51
When the stock reaches 13.50 $ you can also move the stoploss to your entry price as a breakeven stop.
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