Las Vegas Sands Corp (LVS) has been a great trading vehicle for the last two years, running from a dollar and change to as high as $55.47 back in November. Ever since the casinos stock pulled pack and consolidated between $45 and $50. It has been very tricky in this range though, with small trades but not much follow-through.
The longer bases the more energy it will have when it resolves itself. The stock has put in a double bottom at around $44 and turned up today (it even looks a bit like an upper level inverse head and shoulders). This could be a great area to get a good price for the eventual breakout while limiting risk with a stop at the low.
I am long tier one around $46 and will add at the technical trigger of $46.50. It could be a quick move back to 50day around $47.21 then the downtrend that stands around $49-50. Again, the stop loss would be at $44.
*DISCLOSURE: Long LVS
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