Don't Ignore This Chart!

Las Vegas Sands (LVS) Checks At Prior Highs


The Gambling industry group has been performing well as of late. This week the chart of Las Vegas Sands (LVS) is attempting to break to new highs. Technically, the stock is performing well. The SCTR is above 75, and the Relative Strength in purple shows LVS outperforming the $SPX. The recent consolidation since the beginning of the year looks like it is just setting up for the next leg higher. 

The MACD looks extended here and the stock might need to pull back for a few days which might make for a safer entry. The consolidation range is $10 which would target a measured move towards $89 on a breakout. 

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Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst,

Book: Stock Charts for Dummies
Twitter: Follow @Schnellinvestor

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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