Las Vegas Sands Is Close to its 50 Day Moving Average
Published on Friday, 31 August 2012 07:00 Written by TradersHuddle Wire
New York, August 31st (TradersHuddle.com) - Las Vegas Sands Corp. (NYSE:LVS) closed the trading day at $41.78, near its 50 day moving average that is set at $40.78. Las Vegas Sands' price action is just above this important support level, providing a trading opportunity.
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.
The peaks and troughs algorithm shows calculated support at $38.71 and calculated resistance at $43.87. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on Las Vegas Sands should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
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