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

By Shiri Gupta

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 $49.55 and $50.46 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.

In the past 52 weeks, Las Vegas Sands share prices have been bracketed by a low of $33.30 and a high of $74.29 and are now at $49.77, 49% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has slid 0.7%.

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 offers 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.

Las Vegas Sands has overhead space with shares priced $49.77, or 40.2% below the average consensus analyst price target of $83.21. The stock should hit resistance at its 200-day moving average (MA) of $58.10, as well as support at its 50-day MA of $46.34.

SmarTrend is tracking the current trend status for Las Vegas Sands and will alert subscribers who have LVS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Las Vegas Sands

Ticker(s): LVS