Friday, April 24, 2009

Swing Trading LVS

I'm staying home today ;-0 and have been reviewing my watchlist from last night. One stock has caught my attention, the Las Vegas Sands Corp. (LVS). This stock have been showing accumulation since early this month. Interesting to note that LVS have more than doubled in price from a mere $3.00 late March.

Yesterday the stock broke out above $6.00 on volume of more than 89 million shares. I'm not sure what's going on internally, just looking at price and volume action as usual. Purely technical analysis in nature. Tho, I'm concerned about the RSI (shown in the chart) but nonetheless price action is king and position management is second.

I've entered at $7.14 and bought 300 shares and paid $7.00 for commission. My target is around the $8.00 area. Below is the LVS chart.


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