By: Vicki Haddow
Wynn Resorts Limited (WYNN) is the leader in the casino sector but Las Vegas Sands Corp (LVS) has consolidated for long enough that it should be ready for a move higher. Recently we have had a Love/Hate Relationship with this stock, however it looks like it is finally ready to get moving after consolidating for the past 6 months. Although it has been frustrating recently, don’t lose sight of the trade.
The stock gapped down on earnings and had no follow through to the downside. The earnings gap is from $47.75 to $49.55. I would be long Tier 1 within this area and if volume comes in and the stock can hold above $50, you can add for a cash flow move to $52 and new highs should be seen there after above $55.47.
*DISCLOSURE: Long LVS
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