Las Vegas Sands Corp Stock Code LVS.NYS
Outlook
Price tested the high of $50 for three times and on the third occasion, it managed to break above but was unable to sustain above the resistance. Following the third test, price declined for three consecutive days and is now near to the edge of the cloud. We think price is likely to continue downward over the next couple of weeks. While Conversion, Base and Lagging Span have yet to give a sell signal, the price movement looks like a consolidation is about to end. MACD is about to experience a bearish crossover just above the zero line, signaling a bearish trend ahead as well.
Strategy
$45.50 Short Sell
$36.60 Price Target
$51.90 Risk Management Stop
3 weeks Trade Duration
MGM Resorts International Stock Code MGM.NYS
Outlook
Price declined below the cloud last night and this could be the start of another decline to come. Conversion line crossed over the Base line to the downside last night as well. This bearish crossover is a sign of more downside to come. Lagging Span confirms the bearish trend as it is below price of 26 days ago as well as below the cloud. MACD is also showing a bearish trend. The fast line has crossed over the slow line, forming a bearish crossover around the zero line. We think price is likely to decline to $9.00 in the next few weeks.
Strategy
$13.70 Short Sell
$9.00 Price Target
$16.00 Risk Management Stop
3 weeks Trade Duration
