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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. Today's price range of $64.75 and $65.61 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.

Las Vegas Sands has overhead space with shares priced $65.26, or 21.6% below the average consensus analyst price target of $83.21. The stock should find resistance at its 50-day moving average (MA) of $67.18, as well as support at its 200-day MA of $61.50.

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.

In the past 52 weeks, shares of Las Vegas Sands have traded between a low of $51.16 and a high of $74.29 and are now at $65.26, which is 28% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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