Las Vegas Sands Corp. (LVS) Weekly Price Chart Looking Very Good for a Breakout

lvs20100317

Las Vegas Sands (LVS) the casino and gambling co. has what I consider to be a very bullish looking weekly candlestick chart.  It is interesting that the basic structure here is somewhat similar to the way GE General Electric looks and GE recently managed to get a substantial sign of strength breakout on huge volume.

The challenge for LVS is to get a sign of strength weekly price breakout over and above the 20.73 level.  The price chart shown above has a lot of sideways cause and is a bullish sign for supporting an extended weekly breakout.

Assuming a breakout (perhaps next week sometime ?) a quick retest back to the 21 area would be expected and preferably on low volume.  The sideways pattern of the last 5 or 6 months resembles a saucer formation.

Assuming a breakout, a move to 25 seems reasonable and maybe it could do that in a 4 to 6 week time frame.

A very nice looking chart with plenty of bullish possibilities.

Posted in Stock Setups
Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*

s2Member®