Will LAS VEGAS SANDS CORP breakout?

LAS VEGAS SANDS CORP (LVS)       37.52   -1.01 (-2.62%)

After market: 37.53 +0.01 (+0.03%)


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Will LAS VEGAS SANDS CORP breakout?11 days ago - Chartmill

Our stock screener has spotted LAS VEGAS SANDS CORP (NYSE:LVS) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:LVS.

LVS Daily chart on 2022-09-21

Technical Analysis Observations

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to LVS. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, LVS is only an average performer.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • LVS is part of the Hotels, Restaurants & Leisure industry. There are 148 other stocks in this industry. LVS outperforms 87% of them.
  • In the last month LVS has a been trading in the 35.01 - 41.10 range, which is quite wide. It is currently trading near the high of this range.
  • Looking at the yearly performance, LVS did better than 91% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
  • LVS is currently trading in the middle of its 52 week range. The S&P500 Index is currently trading in the lower part of its 52 week range, so LVS is still doing slightly better than the market.
  • Volume is considerably higher in the last couple of days.

Looking at the Setup

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:LVS this score is currently 8:

LVS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 38.59, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for LVS in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NYSE:LVS and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout analyzer.

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