March 29, 2024

Las Vegas Sands (LVS)

ISI Group upgraded Las Vegas Sands (LVS) to Buy from Neutral.  LVS has rallied back very well over the last few years along with many other names but I like to point to this one as one of those stocks you get an opportunity on when things look most dire.

Now ISI is telling you they think it is a Buy.  If I were so inclined to follow their recommendation, I would be watching the 200 Day SMA.  On 6/24/13 LVS gaped down along with the market and violated the 200 day SMA both in intraday action and on a  closing basis.  The next day the stock immediately regained the 200 and has since been trading above.  Ideally I would look for a re-test of the 200 day SMA and then use a stop below the 6/24 low.

If that holds, then I think the recent gap could be a target and then the recent highs and possibly higher but that can be reviewed later.

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