Melco International Development Limited, originally incorporated as "The Macao Electric Lighting Company Limited", is one of the oldest companies in Hong Kong. Founded in 1910, it has been listed on the Hong Kong Stock Exchange in 1927 and was among the first 100 companies established here.
Today, under the leadership of its energetic managing director, Mr. Lawrence Ho, son of Dr. Stanley Ho, Melco is expanding its tremendous growth in its core business in Leisure, Gaming & Entertainment, along with its two supporting businesses of Technology and Investment Banking.
A look on its price technicals today, there will be little problem for further upward push towards completion of third pole (C) seen at HKD 18.00 following the breakout from minor rising wedge.
In the event of a highly corrective pullback, if occured, line B- C should provide the best possible re-entry on a technical perspective. However, this is very unlikely to happen in the near term.