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Possible Bearish Inside Day Candle Pattern Detected for Las Vegas Sands (NYSE:LVS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Las Vegas Sands (NYSE:LVS) based on the price action in the company's shares. Today's price range of $69.09 and $69.50 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Las Vegas Sands may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 0.4% for shares of Las Vegas Sands based on a current price of $69.10 and an average consensus analyst price target of $69.40. Las Vegas Sands shares have support at the 50-day moving average (MA) of $50.02 and additional support at the 200-day MA of $46.88.

Las Vegas Sands share prices have moved between a 52-week high of $72.20 and a 52-week low of $41.45 and are now trading 67% above that low price at $69.10 per share. The 200-day and 50-day moving averages have moved 0.39% lower and 0.21% lower over the past week, respectively.

Las Vegas Sands Corp. owns and operates casino resorts and convention centers. The Company operates in the United States, Macau and Singapore. Las Vegas Sand Corp's casinos offer a wide range of gaming activities and entertainment as well as overnight accommodations, while its expo centers host a wide range of entertainment shows, expositions, and other activities.

SmarTrend is monitoring the recent change of momentum in Las Vegas Sands. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Las Vegas Sands in search of a potential trend change.

Keywords: bearish inside day candle Las Vegas Sands

Ticker(s): LVS