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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish 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 $53.67 and $54.23 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. Traders and investors interested in shares of Las Vegas Sands may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Las Vegas Sands has traded in a range of $47.39 to $69.60 and closed yesterday at $54.17, 14% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has remained constant.

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.

Potential upside of 53.6% exists for Las Vegas Sands, based on a current level of $54.17 and analysts' average consensus price target of $83.21. Las Vegas Sands shares should first meet resistance at the 50-day moving average (MA) of $55.84 and find additional resistance at the 200-day MA of $59.33.

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: bullish am inside day candle Las Vegas Sands

Ticker(s): LVS