Las Vegas Sands is Near a Key Support Area

Published on Thursday, 14 June 2012 06:32 Written by TradersHuddle Wire

New York, June 14th (TradersHuddle.com) - Shares of Las Vegas Sands Corp. (NYSE:LVS) are trading very close to calculated support at $44.53 with price action closing at just $45.25 and placing the stock near levels where traders will start paying attention.

Las Vegas Sands' stock range is defined by its calculated support defined at $44.53 and by the resistance level at $48.60, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.

Traders wanting to establish a position should pay close attention to Las Vegas Sands' price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $48.60 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

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 accommodations 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.