Las Vegas Sands Corp. develops, owns, and operates integrated resorts
in Asia and the United States. The company owns and operates The
Venetian Macao Resort Hotel, Sands Cotai Central, the Four Seasons Hotel
Macao, the Plaza Casino, and the Sands Macao in Macau, the People’s
Republic of China. It also owns and operates the Marina Bay Sands in
Singapore; The Venetian Resort Hotel Casino, The Palazzo Resort Hotel
Casino, and Five-Diamond luxury resorts on the Las Vegas Strip; the
Sands Expo and Convention Center in Las Vegas, Nevada; and the Sands
Casino Resort Bethlehem in Bethlehem, Pennsylvania. The company’s
integrated resorts comprise accommodations, gaming, entertainment and
retail facilities, convention and exhibition facilities, celebrity chef
restaurants, and other amenities.
Take a look at the 1-year chart of Vegas (NYSE: LVS) below with added notations:
LVS has been trading sideways for the last 3 months, while forming a
common pattern known as a rectangle. A minimum of (2) successful tests
of the support and (2) successful tests of the resistance will give you
the pattern. LVS’ rectangle pattern has formed a $65 resistance (red)
and a $57.50 support (blue). At some point the stock will have to break
one of the two levels created by the rectangle pattern.
The Tale of the Tape: LVS is trading within a
rectangle pattern. The possible long positions on the stock would be
either on a pullback to $57.50, or on a breakout above $65. The ideal
short opportunity would be on a break below $65.
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