Las Vegas Sands Is Playing a Losing Hand

 | Feb 17, 2017 | 1:56 PM EST
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Las Vegas Sands  (LVS) is slipping lower and lower on the charts.

The bears are getting the upper hand as prices dip below the 200-day moving average line and the pace of volume increases on the downside.

In this daily chart of LVS, above, we can see how prices rolled over since September with a peak in November. The slope of the 50-day moving average line has turned down and the slope of the 200-day average is beginning to flatten. The On-Balance-Volume (OBV) line rose with prices from May but it has stalled since early October and looks to be turning lower. A declining OBV line is a sign that sellers have become more aggressive. Prices made a low in December and a lower low in February, but the 12-day momentum study has made higher lows. This setup is a called a bullish divergence. Prices might hold or bounce from here or the divergence may be ignored.

In this weekly chart of LVS, above, we can see prices have pulled back to test the rising 40-week moving average line. The weekly OBV line is pointed down, unlike the daily line. The weekly MACD oscillator is heading down to the zero line and a possible outright sell signal.

Bottom line: It looks like LVS is holding a losing hand. A break below minor support in the $52-$50 area is likely to precipitate further losses toward $46. A rally back above $56 would suggest the bull is making a comeback.



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