Galaxy Entertainment Group (OTCMKTS:GXYEF) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

Galaxy Entertainment Group Limited (OTCMKTS:GXYEF) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.33 and traded as low as $4.9940. Galaxy Entertainment Group shares last traded at $5.4860, with a volume of 10,907 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Galaxy Entertainment Group from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Galaxy Entertainment Group Price Performance

The company has a 50-day moving average price of $5.33 and a 200-day moving average price of $5.23.

About Galaxy Entertainment Group

Galaxy Entertainment Group is a Hong Kong–incorporated investment holding company with core operations in the gaming and hospitality industry. The company develops and operates integrated resort complexes in the Macau Special Administrative Region, offering casino gaming, luxury hotel accommodations, retail, dining, entertainment and convention facilities under one roof.

Its flagship property, Galaxy Macau on the Cotai Strip, encompasses multiple phases of development, combining mass-market gaming areas, VIP gaming salons, branded hotels such as Banyan Tree and The Ritz-Carlton, and a variety of food and beverage outlets.