Las Vegas Sands
Up first is gaming stock Las Vegas Sands ( LVS), a stock that's been churning out some stellar performance this year. Shares of the $45 billion casino resort operator have rallied more than 18% year-to-date -- and now a bullish setup on the chart points to even more upside in the second quarter of 2013.
LVS is currently forming an ascending triangle pattern, a bullish price setup that consists of a horizontal resistance level above shares and an uptrending support level to the downside. As LVS bounces in between those two technical levels, it's been getting squeezed closer and closer to a breakout above that resistance level at $56. When that happens, traders have a buy signal for shares.The 50-day moving average has been acting as a decent proxy for support over the course of the pattern (even if it's been a conservative one). If you decide to take this trade once LVS moves through $56, I'd recommend keeping a protective stop right on the other side of the 50-day.
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