Galaxy Entertainment Group Limited (HKG:0027) HEFFX Highlights

Galaxy Entertainment Group Limited (HKG:0027) HEFFX Highlights

Galaxy Entertainment Group Limited (HKG:0027) HEFFX Highlights

  • Macau-based casino operator Galaxy Entertainment Group Ltd says it believes it can make “a big impact” if it is awarded a licence to develop a casino resort in Japan.
  • “We believe that Japan has a huge opportunity to create something unique that doesn’t just follow the [Las] Vegas model seen in many other markets around the world,” said Michael Mecca (pictured), president of Galaxy Entertainment, in an interview with GGRAsia.
  • Macau’s Casinos once made more than 50 percent of their combined gross gaming revenue (GGR) from the lucrative VIP market segment who were happy to spend thousands of dollars at the casino tables during their gambling sprees.
  • The majority of these high rollers were ferried from Mainland China and junket operators did great business by feeding the casinos a constant flow of high-rollers.

Galaxy Entertainment Group Limited (GEG) is a hospitality and gaming company. The Company develops and operates hotels, gaming and integrated resort facilities in Macau. The principal activity of the Company is investment holding. The Company, through its subsidiaries, is engaged in operation in casino games of chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction materials. Its segments are Gaming and entertainment, Construction materials, and Corporate and treasury management. The Company’s Galaxy Macau includes approximately 3,600 rooms, suites and villas across five hotels, including The Ritz-Carlton, Macau; Banyan Tree Macau; JW Marriott Hotel Macau; Hotel Okura Macau, and Galaxy Hotel. The Company’s Broadway Hotel features approximately 320 rooms and suites, a porte-cochere, valet parking and decor. GEG operates three City Club casinos: Waldo Casino, President Casino and Rio Casino.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 41.11.

The projected upper bound is: 47.32.

The projected lower bound is: 42.81.

The projected closing price is: 45.07.

GALAXY ENT closed down -0.100 at 44.950. Volume was 47% above average (neutral) and Bollinger Bands were 42% wider than normal.

Open       High       Low           Close       Volume
45.500    46.050    44.650    44.950    24,084,652

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period        50-period      200-period
Close:                       42.58               42.13              35.10
Volatility:                33                     34                   39
Volume:                  18,088,930    16,323,299    17,280,562

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
GALAXY ENT is currently 28.0% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into 0027.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 0027.HK and have had this outlook for the last 2 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 84.2391. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 16 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 66.93. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 32 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 145.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 8 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 6 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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