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When Might Las Vegas Sands Bounce?

Las Vegas Sands Corp. (NYSE:LVS) has been hammered for the last six weeks after rocketing higher to $55.47. On the day it reached its peak, the stock closed with a beautiful topping tail. This was the shorting signal of the year as the stock dropped all the way to its current lows of $41.97.  Many may be wondering if now is the time to scoop up LVS for a long play. While it is getting oversold, the technical chart does not say it is a buy yet. On the chart below, note the gap fill at $41.00.  Once this level is hit, LVS has a high probability of a short term bounce back to $44.00. Watch the charts, they reveal the true keys to making money. 

Gareth Soloway
Chief Market Strategist
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