Trade Ideas: ASCA, LVS, MPEL, WYNN

Las Vegas Sands Corp. (NYSE:LVS) – Hold with a stop-loss at $36. Fresh exposures may be avoided, as the short-term outlook is bearish. A close below $36 would impart further weakness and a subsequent test of $34.61 ( 52-week low ) is not ruled out. The trend would turn positive only a close above $39.81. Long positions may be considered on a daily close above this level.

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Wynn Resorts, Limited (NASDAQ:WYNN) – The short term scenario is not encouraging for the investors. The stock has broken uptrend support in the $147 to $145 range. In other words, the long-term trend has turned negative. This is the confirmation of the trend reversal. Keep an eye on the $101 level for signs of support.

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Melco Crown Entertainment Ltd (NASDAQ:MPEL) – Technically there is no reason to take exposure in this stock as there is no evidence of the reversal of the ongoing downward move. For now, it would be better to stay away from this stock. The near-term outlook is bearish and the stock could drop to the $7-$6.80 range.

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Ameristar Casinos, Inc. (NASDAQ:ASCA) – The near-term trend is bearish and the drop below $15.10 confirmed the weak outlook. $14.48 is a crucial level. Breakdown will result in a greater fall.

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Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.
About Antonio Costa 325 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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