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Melco Crown Entertainment Ltd (MPEL) : Bearish Cross

MPEL had a bearish cross as indicated by the Tenkan sen and Kijun sen.

Currently, the price is just trading around the Kijun sen (trend line); which suggest that it is still hanging on to this support level ($5.03).

It may rebound off this level or it can also continue downwards. If it goes down, we will look for support at around $4.63

Note:

– MPEL is reporting earning on Apr 28.