What Makes Melco Resorts (MLCO) a Strong Momentum Stock: Buy Now?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Group 1: Company Overview - Melco Resorts (MLCO) currently holds a Momentum Style Score of B, indicating a positive outlook based on price changes and earnings estimate revisions [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Group 2: Performance Metrics - MLCO shares have increased by 12.5% over the past week, significantly outperforming the Zacks Gaming industry, which rose by 3.69% during the same period [5] - Over the last three months, MLCO shares have surged by 74.84%, and they are up 15.39% over the past year, compared to the S&P 500's gains of 10.42% and 14.64%, respectively [6] Group 3: Trading Volume - The average 20-day trading volume for MLCO is 3,417,288 shares, which serves as a bullish indicator when combined with rising stock prices [7] Group 4: Earnings Outlook - In the past two months, three earnings estimates for MLCO have been revised upward, while none have been lowered, leading to an increase in the consensus estimate from $0.17 to $0.29 [9] - For the next fiscal year, two estimates have moved up, while one has been revised downward [9] Group 5: Conclusion - Given the positive momentum indicators and earnings outlook, MLCO is positioned as a strong buy candidate for investors seeking short-term opportunities [11]