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With MGM In New Buy Zone, Las Vegas Sands Places Bet On New Base

(© 2017 The Venetian Las Vegas)

MGM Resorts International (MGM) broke out last month and remains in a buy zone, as fellow casino stock Las Vegas Sands (LVS) may be getting ready to roll the dice on cup-with-handle breakout.

Wynn Resorts (WYNN) has already broken out and is now extended.

Las Vegas Sands got an upgrade to its Relative Strength (RS) Rating on Friday, rising from 68 to 72.

IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.

History reveals that the top-performing stocks tend to have an 80 or better RS Rating as they launch their biggest price moves. See if Las Vegas Sands can continue to show renewed price strength and clear that threshold.

Las Vegas Sands is trying to complete a cup with handle with a 59.95 entry. See if it can clear the breakout price in volume at least 40% higher than normal.

Earnings grew 40% last quarter, up from 0% in the prior report. Revenue also increased, from 7% to 14%.

Las Vegas Sands holds the No. 8 rank among its peers in the Leisure-Gaming/Equipment industry group. MGM, Boyd Gaming (BYD) and Churchill Downs (CHDN) are among the top 5 highly rated stocks within the group.

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