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Casinos & Gaming Industry Stocks Technical Analysis - LVSArchive
- 11/8/2024 -
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Las Vegas (LVS) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Las Vegas (LVS). During the week, the LVS dropped -1.35 points, or -2.61%, and closed at 50.38 on Friday, November 8, 2024. It was the worst weekly loss since August 30, 2024. Weekly volume was 29% above average.
 Long-term trend: [See LVS long-term trend chart]
A long-term downtrend had started on May 1, 2023 at 65.58 and reached 36.62 on August 5, 2024. LVS lost 28.96 points, or 44.16%, in 66 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (34.28) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See LVS medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 36.62 and reached 54.39 on October 7, 2024. LVS gained -17.77 points, or -48.53%, in 9 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See LVS weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since September 13, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See LVS short-term trend chart]
A short-term uptrend had started on August 30, 2024 at 38.43 and reached 54.39 on October 7, 2024. LVS gained -15.96 points, or -41.53%, in 38 days. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (56.55) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See LVS daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 14, 2024.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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