ITT Educational Services Climbs In A Big Way, But It Probably Won’t Last
ITT Educational Services, Inc. (NYSE: ESI)
ITT Educational Services stock is up in a big way today, trading on relatively high volume. According to NASDAQ, the average daily volume over the past 90 days on ESI has been 1,018,415. However, so far today, 1,018,415 shares have traded hands. As a result, ESI is currently (1:01) trading at $4.35 per share after a gain of 9.30%. Unfortunately however, I don’t think there’s much left by way of gains in this run. Given the fact that the trend in the stock over the past 5 years has been overwhelmingly bearish with few bullish runs, I’m going to have to side with the technical analysts and say that history is likely to repeat itself. I will say however that ESI is currently trading around the lowest price we’ve seen since 2005. So, maybe it will hit support some day. Nonetheless, it’s been fun to watch.
Wynn Resorts Is Up On China’s Decision To Ease Visa Restrictions
Wynn Resorts, Limited (NASDAQ: WYNN)
Wynn Resorts stock is climbing for the second day in a row after China made the decision to ease visa restrictions to mainland tourists traveling to the Macau gaming district. This is a great thing for Wynn as high frequency gamblers from the area tend to visit twice every 30 days; compared to twice every 60 days from other regions. More gambling is likely to increase profits at WYNN. Currently (1:08), the stock is trading at $104.09 per share after a gain of 5.49% so far today. Unlike ESI however, the gains we’re seeing from WYNN are likely to hold long term. Nonetheless, after large climbs, we tend to see pull backs before more positive movement. With that said, now may be the time to start looking for pull backs that signify great opportunities to get in on the growth.
Melco Crown Entertainment Climbs Right Along Wynn’s Side
Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL)
Finally, Melco Crown Entertainment, another major casino owner in the district is gaining right along side WYNN. Following the news of China’s visa restrictions being lifeted, MPEL has been gaining for 2 days now; and along with WYNN, I’m not expecting to see major declines any time soon. Currently (1:13), MPEL is trading at $20.70 after a gain of 5.46%. Again, because of the reason for the increase in value here, I’m expecting to see more gains in the future. With that said, now may be the time to start looking for pull backs that signify opportunities for growth.
Do You Know Of Any Others?
Do you know of any other stocks in the service sector that are running with the bulls today? If so, let us know in the comments below!