9-13-2010 close $32.10 - Las Vegas Sands near Resistance | Trading Ideas

Las Vegas Sands near Resistance Written by Christian Paolinetti Tuesday, 14 September 2010 08:12 New York, September 14th ( - Shares of Las Vegas Sands Corp. (NYSE:LVS) are trading very close to calculated resistance at $32.54 with the current price action closing at just $32.10 placing the stock near levels that make it difficult to buy.
Las Vegas Sands Corp. (NYSE:LVS) owns and operates casino resorts and convention centers. The Company operates in United States, Macau, and Singapore and offers a wide range of gaming activities and entertainment as well as overnight accomodations in properties like the Venetian and the Palazzo in Las Vegas, NV. Its expo centers host a wide range of entertainment shows, expositions, and other activities.
Las Vegas
Sands' current stock range is defined by current calculated support defined at $27.02 and by the resistance level at $32.54, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.
Traders don't have a clear entry point for Las Vegas
Sands, as the stock is well above support, however, as the stock pulls back towards $27.02 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $32.54 then traders will get an opportunity to enter Las Vegas Sands stock by establishing a position as the stock moves to a higher range.