Stock Picks For Thursday: Wynn Resorts, Melco Crown Entertainment And Las Vegas Sands

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Stock Picks For Thursday: Wynn Resorts, Melco Crown Entertainment And Las Vegas Sands

By Antonio Costa on October 29, 2009 | More Posts By Antonio Costa | Author's Website

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Wynn Resorts (WYNN) - If its support of $52,70 is broken on a close basis then the chances of stock touching the level of $50 becomes high. Looking at the daily chart, the MACD continues below its signal line, showing a clear evidence of a Bearish trend. In addition, RSI is less than 30 indicating that the stock is oversold. However an oversold stock doesn’t mean that the stock will rebound strongly.

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Las Vegas Sands (LVS) is looking pretty bearish. If the weakness continues and the stock breaks the support at $11.91, there will be a good chance that the stock will test the $11,34 support.

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Melco Crown Entertainment (MPEL) closed on the highs of the day. It appears that the correction may be close to an end. Present technical indicators are not in favor of Bulls, however buy point on stock is on the day it breaks the short term resistance of its 5-day moving average at $5.45. This may be a good spot to get in, with a stop under the recent lows if the timing is wrong.

Other Stocks to Watch - ( Pattern is Bullish Engulfing )

KFT - KRAFT FOODS INC
PLL - PALL CORP
NXCO - Nexicon Inc
RCON - Recon Technology Ltd
BKBO - BAKBONE SOFTWARE INC
SRV - CUSHING MLP TTL RTN
LNDC - Landec Corporation
CAP - CAI International Inc
STBC - State Bancorp Inc
EGBN - Eagle Bancorp, Inc.
EBTX - Encore Bancshares Inc
SURG - Synergetics USA

Other Stocks to Watch - ( Pattern is Bearish Engulfing )

CAL - CONTINENTAL AIRLINES
HES - AMERADA HESS CORP
SO - SOUTHERN CO
MCO - Moody’s Corp
SYY - SYSCO CORP
XEL - XCEL ENERGY INC
ESV - ENSCO INTL INC
HRB - BLOCK H & R INC
EAT - BRINKER INTL INC
FTI - FMC Technologies Inc.
BPSG - Broadpt Glcr Sec
ESRX - Express Scripts, Inc.
HNT - Health Net Inc
EQT - EQT Corporation
KBR - KBR Inc
DAR - Darling Intl
JADE - LJ Intl Inc
AIZ - ASSURANT INC
GNVC - GenVec Inc
HEV - Enerl Inc
ITRI - Itron, Inc.

Disclaimer: Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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