andrew.berg
Short

LVS gapped down into major support at $72

NYSE:LVS   LAS VEGAS SANDS CORP
Casinos stocks showing relative weakness as they trade below key moving averages. At the same time major indexes are at their highs.
It is hovering around 200 EMA at $73.22 and today gapped below, it could be new point of reference.
Major support at $72 which is in tact since February 2014. Break and hold below for few days could lead to some downside follow through.
Resistance is down trend line as bears keeping preassure on price as we can see with lower highs and recent swing high at $77.50.
Potential target could be at $64 which acted like support during September-October of 2013.

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