July 8 Chart of the Day - Las Vegas Sands

Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.

Las Vegas Sands (LVS) may not dominate headlines like the Mag 7 but its chart is beginning to command serious attention. After months of sideways consolidation, price action is creeping toward a well defined resistance level that has turned back multiple advances over the past year.

With earnings on deck later this month and renewed optimism in global travel and gaming, LVS could be setting up for a breakout or another rejection. 

As always, we will let the price action chart our course in both directions.

Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.

When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame. 

As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.

Since May 2023, we've showcased over 550+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.

Monthly Chart 

On the monthly chart we can see that price recently launched off a long term trend line and support level in the $30 area and may hard charging back up towards a change control zone roughly between $51 and $55.

Change control zones are one of the five price action tools we teach when charting anything.  By definition, they are an area that represents where neither the bulls nor bears are in charge.  Price can slash through the zone with seemingly reckless abandon, price can respect the top or bottom from outside it or within it.  Or, price can trade aimlessly sideways within it.  When price breaks away from the zone it can often get drawn back to it like a magnet. And in this case we see all of the above are true.

Currently, price is seemingly heading towards the low to mid $50s but will it get thwarted and sent back down from this area yet again?

This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.

Weekly Chart

On the weekly chart, we can see with much more clarity the strong momentum off the support levels.

Technically speaking, it wouldn't be surprising to see price continue towards the change control zone before potentially making a longer term directional decision.

It goes without saying though, the only guarantee in the markets is that price cycles.  It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.

Only time will tell for sure what price will do next...

We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.

With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.

So what's next? 

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