Las Vegas Sands Corp. : The bullish trend is not over
By Bastien Chabasseuil
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$69.88 | US$0 | US$68.6 | -100% |
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. Earnings are in a good trend and estimates underline a good potential.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help the stock to reach the USD 73.3 mid term resistance. The good reaction of the share on this level, combined with a major support at USD 69.5, confirm the bullish potential.
In consequence, investors can take a long position in Las Vegas Sands with a first target price at USD 73.3. This level is the long term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be set under the short term support.