Is There Resistance Above for Las Vegas Sands?

New York, November 28th (TradersHuddle.com) - Las Vegas Sands Corp. (NYSE:LVS) closed the trading day at $46.36, near its 50 day and 200 day moving averages set at $44.86 and $47.56 respectively. Las Vegas Sands' price action placed the stock above the 50 day moving average but below its 200 day moving average, providing a nice trading setup with clear reference points.

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.

Las Vegas Sands seems to be setting up for a tight range between the 50 day moving average as support and the 200 day moving average serving as resistance.

A tiered approach appears to be the best way to maximize possible movements in the stock, as traders could establish a small position in Las Vegas Sands and wait for the stock to break out above the 200 day moving average at $47.56. Then they could add to the position as momentum builds with the breakout. On the other hand, if support being referenced at the 50 day moving average set at $44.86 breaks, it could signal further downside for Las Vegas Sands in the horizon.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,067.56 ▼30.89 (-0.18%)
o S&P 500 2,002.28 ▼1.09 (-0.05%)
o NASDAQ 4,598.19 ▲17.92 (0.39%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,067.56 Trade time:4:29PM EDT Value change:▼30.89 (-0.18%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,002.28 Trade time:4:29PM EDT Value change:▼1.09 (-0.05%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,598.19 Trade time:5:15PM EDT Value change:▲17.92 (0.39%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.