One thing to note on LVS is while that they may have a large exposure to the Las Vegas market, they have large exposure to other markets. One such market is Macau, the Chinese administrative region and what is essentially their Las Vegas.
The recent sell-off was overdone and had little to do with the the fundamentals of the stock. It has already been above $60 and if it is able to pass the strong resistance level at $52.50, there is a strong probability it will cross the $60 level again.
Technically speaking, it looks very positive as we recently made a so called GoldenCross. This happens when the short-term moving average (50SMA) crosses the longer-term moving average (200SMA) to the upside. Also the RSI shows a strong bounce of the lower oversold territory straight back up to a positive buying opportunity. Last but not least the MACD shows a bending curve for the MACD, which simply means that the stock is reversing to the upside, on its way to the signal, in order to create a bullish pattern as well.
Taking advantage of this trade, as I believe there is still more room to the upside, way more room to the upside to be more precise. I put on the May LVS 48 Straddle for $6.60.
