Thursday night Jim Cramer told viewers of Mad Money that for years the hottest story in the casino industry was Macau. But as President Trump kicked off a trade war with China, the greatest gambling story of all time came to an abrupt end. However, even as shares of Las Vegas Sands (LVS) have fallen 29% for the year, and rival Wynn Resorts (WYNN) has lost 42%, there is a new story in the casino industry and it could be even bigger than Macau and that is sports betting.
Let's check out a few charts.
Las Vegas Sands
In the daily bar chart of LVS, below, we can see that the shares have been unable to break above the early June high and have just stalled/failed at the underside of the declining 200-day moving average line.
The On-Balance-Volume (OBV) line shows a weakening pattern since early June telling us that sellers of LVS have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is pointed down towards the zero line.