Watch for Las Vegas Sands to Potentially Pullback After Gaining 1.17% Yesterday
Las Vegas Sands (NYSE:LVS) traded in a range yesterday that spanned from a low of $46.68 to a high of $47.47. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $46.94 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Las Vegas Sands have traded between a low of $34.88 and a high of $57.77 and are now at $47.41, which is 36% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of Las Vegas Sands on April 6th, 2016 by issuing a Downtrend alert when the shares were trading at $49.28. Since that call, shares of Las Vegas Sands have fallen 4.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders Las Vegas Sands