The stock trades higher and higher as I think many fund managers want it in their portfolio!
Nobody seems to want to sell it now. Some are targeting $60, some $75!
This is a crazy counter. It is so volatile but the long term benefits are good.
I have tried shorting it with tied stop loss but always failed due to its enormous upside risk!
What to do with such a stock? One can expect consolidation in a nice trading range. This will be the time to find out what that range is going to be. I doubt that it will continue trending upwards as it is due for some consolidation.
Those who have bought early and feel that valuation is done will begin selling it, however there is also demand from those who wants to keep this priced beauty. If the trading range pans out, one should play long trades at the bottom of the range.
Currently, I think the range will be from $48 to $55.
1 comment:
You try to short a casino stocks? You are crazy man!!!! I'm gonna teach you why you can't beat them because they are gamblers either it is illegal they makes money esp. Macao. Look Mr. Stanley Ho the guy with a billions in his mind.
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