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

By Amy Schwartz

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. Yesterday's price range of $56.92 and $57.48 is within the prior day'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.

Las Vegas Sands share prices have moved between a 52-week high of $69.60 and a 52-week low of $47.39 and closed yesterday at 20% above that low price at $57.01 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.2%.

There is potential upside of 46.0% for shares of Las Vegas Sands based on a current price of $57.01 and an average consensus analyst price target of $83.21. The stock should hit resistance at its 200-day moving average (MA) of $59.43, as well as support at its 50-day MA of $55.71.

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 am inside day candle Las Vegas Sands

Ticker(s): LVS