One of the hardest hit industries during this pandemic has been hotels. Las Vegas Sands really took it on the chin when one of its main revenue sources, Macau, completely shut down for a couple of months before the pandemic closed the US. Like everyone else, Sands must adapt to a changing environment.
High volume selling in the spring knocked the Sands stock back hard. Since then, a series of higher highs and higher lows have pushed the stock back up to the 200ma. A move higher was firmly rejected (arrow), and the stock suffered a sharp pullback to the lower bollinger band. Now the MACD is signaling “buy”. Perhaps we’ll see the stock move up to that 200 ma again, make a higher low in the chart and then slice through resistance towards pre-pandemic levels.
While this name doesn’t have the “all clear”, if economies continue to slowly open up the stock will rise once again.
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About Las Vegas Sands
Las Vegas Sands Corporation, together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People’s Republic of China; and Marina Bay Sands in Singapore. The company also owns and operates The Venetian Resort Hotel Casino on the Las Vegas Strip; and the Sands Expo and Convention Center in Las Vegas, Nevada. Its integrated resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants, and other amenities. The company was founded in 1988 and is based in Las Vegas, Nevada.