In the past week, MLCO stock price gained 3.2%, outperforming the broader NASDAQ Gaming Index. Analysts credit strong casino floor performance and higher-than-expected table drop volumes as key drivers for this momentum. Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is a Hong Kong-based developer, owner, and operator of integrated resort facilities with a focus on casino, gaming, and entertainment. The company is known for operating major properties across Europe and Asia, with the most notorious ones including City of Dreams and Studio City in Macau, City of Dreams Manila in the Philippines, and City of Dreams Mediterranean in Cyprus. A significant competitive advantage of the company is the exclusive casino license in Cyprus, which it holds for 15 years. MLCO ranked 1 st on our recent list of 12 Best Hotel Stocks To Buy According to Analysts . Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Technical traders highlight MLCO stock price’s consistent support around the $8 mark. A strong defense of this level could serve as a catalyst for medium-term upward trends in gaming-related equities.