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Las Vegas Sands Corporation (LVS) is a multinational company that develops and manages integrated resorts that combine gambling, accommodation, retail, and events. It has footprints in Las Vegas, Macao, and Singapore. The reopening of borders post-pandemic has certainly given a boost to the integrated resorts. LVS is listed on NYSE and is a component of the S&P 500 under Consumer Discretionary.

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LVS price was moving in a range before a big gap up on 14 Jan 2022 with a spike of volume. The increase in an effort led to a commitment above $42, which at this point is rather bullish. Nevertheless, the price peaked at $48 on 16 Feb and started a Wyckoff sign of weakness (SOW). The price found support around $31 on 14 March.

The price subsequently moved between the range of $31 and $40 in the next few months. There were a few tests of the $31 axis. The volume during this period was relatively low suggesting a lack of supply. There was an attempt to break above $40 on 4 Oct but this proved to be a Wyckoff upthrust as the price reacted by retracing back into the range.

In late October, the price attempted another rally and it proved to be the best Wyckoff sign of strength (SOS) rally thus far. The price committed above $40 and formed a Wyckoff backup for several days before continuing to rally up. The price formed a backup range between $46 and $49.50. On 4 Jan 2023, LVS price broke out to rally higher.
 

Bias

Bullish. According to the Wyckoff method, LVS has completed an accumulation phase and has shown strength by committing above the previous high of $48. It will likely continue the bullish momentum in the phase E markup to test the next resistance around $60.

If the price broke below $50, it will retest the $46 support.

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