Las Vegas Sands Corp. (NYSE: LVS)

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, Sands Cotai Central, the Four Seasons Hotel Macao, Cotai Strip, the Plaza Casino, and the Sands Macao in Macao, the People’s Republic of China; and iconic Marina Bay Sands in Singapore. The company also owns and operates The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino, and Five-Diamond luxury resorts on the Las Vegas Strip; Sands Expo and Convention Center in Las Vegas, Nevada; and the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania.

Take a look at the 1-year chart of Las Vegas (NYSE: LVS) below with added notations:

1-year chart of Las Vegas (NYSE: LVS)LVS

LVS has been trading sideways for the past 2 months, while forming a common chart 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 $60 resistance (red) and a $56 support (green). The break above $60 would be a new 52-week high, which should lead to higher prices overall for the stock.

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The Tale of the Tape: LVS is trading within a rectangle pattern. The possible long positions on the stock would be on a pullback to $56, or on a break above $60, with a stop placed under that level. A short position could be entered on a break below $56.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

Follow me on Twitter: @cmtstockcoach