More Upside for Las Vegas Sands ?

Published on Wednesday, 08 September 2010 12:38 Written by Danny Miller

New York, September 8th (TradersHuddle.com) - Shares of Las Vegas Sands Corp. (NYSE:LVS) booked a new 52 week high today by trading above $31.46, traders are definitely monitoring Las Vegas Sands' price action to see if this move attracts further buying into the stock.

Las Vegas Sands Corp. (NYSE:LVS) owns and operates casino resorts and convention centers. The Company operates in United States, Macau, and Singapore and offers a wide range of gaming activities and entertainment as well as overnight accomodations in properties like the Venetian and the Palazzo in Las Vegas, NV. Its expo centers host a wide range of entertainment shows, expositions, and other activities.

Las Vegas Sands is currently trading 1.6% versus its previous trading session close, and it has calculated support and resistance at $27.02 and $29.40 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.88% from its previous trading close, which means that Las Vegas Sands stock is outperforming the overall market.