I thought about posting a daily LVS chart this weekend because it looked great (hat tip to jf in Chicago) and I wish I had because it surged 15% today. The shorter term chart (which I'm not posting tonight) shows that LVS recently retook its flattening 200 dma for the first time since 2007. That's a big deal in my book to compound bullish signals from a golden cross and a bull flag pattern that seems to be completing. Instead I have the three year weekly chart above which looks like a stock that stared death in the face and said go f--- yourself. The volume at the low clearly suggests capitulation and you can see the significance of this base by noting the volume by price (left hand side). What I like most about this chart is the inverted head and shoulders, the scale of that thing is insane but the price target seems completely reasonable to me. If LVS takes out $15 then this pattern targets $30 which looks like a pivot point. That's a cool 100% from the neckline, but a whopping 2,070% gain from the all time low made back in March. Yowsa!
Showing posts with label LVS. Show all posts
Showing posts with label LVS. Show all posts
Monday, July 20, 2009
A Chart a Day #11: Las Vegas Sands (LVS) H&S
I thought about posting a daily LVS chart this weekend because it looked great (hat tip to jf in Chicago) and I wish I had because it surged 15% today. The shorter term chart (which I'm not posting tonight) shows that LVS recently retook its flattening 200 dma for the first time since 2007. That's a big deal in my book to compound bullish signals from a golden cross and a bull flag pattern that seems to be completing. Instead I have the three year weekly chart above which looks like a stock that stared death in the face and said go f--- yourself. The volume at the low clearly suggests capitulation and you can see the significance of this base by noting the volume by price (left hand side). What I like most about this chart is the inverted head and shoulders, the scale of that thing is insane but the price target seems completely reasonable to me. If LVS takes out $15 then this pattern targets $30 which looks like a pivot point. That's a cool 100% from the neckline, but a whopping 2,070% gain from the all time low made back in March. Yowsa!
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