Stock of the Day: Las Vegas Sands

In today’s stock of the day, let’s take a closer look at Las Vegas Sands Corporation, which is under strong bearish pressure.

On the chart, we can see a classic head and shoulders formation, marked with the orange rectangle. This formation is a textbook reversal setup, and it already triggered a sell signal. The decisive moment came when the price broke below the red neckline of the pattern. Adding to the negative sentiment, the blue uptrend line was also breached, which confirms that the buyers have lost control.

With both of these supports now broken, the outlook for Las Vegas Sands has shifted to bearish. Sellers are in the driver’s seat, and as long as the price remains below the neckline and the former uptrend line, the probability of a deeper downswing remains high. The sentiment here is clearly negative.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-las-vegas-sands