Melco Crown Entertainment Ltd (MPEL) : Watch the Support

As highlighted previously, MPEL has a bearish cross as indicated by the Tenkan sen and Kijun sen.

With the earnings released, the counter did not move up much despite a positive pre-market movement.

A key support to look for is now at around 4.62.

If it breaks this level, we have another bearish confirmation from the Chikou Span cutting the price level.

By iam802

Trend trading with Ichimoku