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Short Idea - LVS, Las Vegas Sands

|Includes: Las Vegas Sands Corp. (LVS)
LVS – Las Vegas Sands – last reported May 3 , 0.37 (adjusted) vs 0.44 a miss of .07

 
Currently below fib resistance at $41.29 and broke down through ma support this morning @ $41 on the 2 year daily chart. Both RSI & MACD are struggling here and indicate that the short term trend lower still has further to go. On the last dip in March LVS bounced off of ma support at 36.03 – the same ma support that it just broke down through @ 41 today.
Recent bounce from May 24th @ $39.59 was weak in my view and think the short term lower trend continues.

 
The Long term chart is still in an uptrend and from and from a LT point of view – this is just a dip that hasn’t quite hit bottom yet. That being said – I would be comfortable laying out a short as long as it does not close above $41. Target of 36.83 would be 9.31% vs. 40.26 entry.  

 
Support levels @ 36.83, 33.34 (moving average support) & 32.60
Resistance levels @ 41(ma resistance), 43.57, 44.97 (ma resistance), 45.86

 
NET NET – As long as LVS closes below $41 this is a short with a 36.83 near term target.

 
Target vs. $40.54 entry
$36.83 = 10.07%
$33.34 = 21.60%
$32.60 = 24.35%

 
Stoploss levels vs. $40.54 entry
$43.58 = 7.5%
$42.57 = 5%
$41.55 = 2.5%