Las Vegas Sands: All Bets Are Off

Macau casino revenues jumped over 29% last month, but stocks with exposure to the world's largest gambling hub have reacted negatively to the news. Las Vegas Sands (LVS) has been trading in a horizontal channel since the beginning of July, bordered by resistance in the $63 area and support in the $59.75 area.

The stock is currently retesting channel support, which is also the 38% Fibonacci retracement level of its 2017 range. It is in danger of taking it out. A breakdown would likely result in a retest of long-term trendline support....233 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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