| Las Vegas Sands (LVS) -- Weekly |
This weekly chart shows how Las Vegas Sands peaked in early 2007. Since that time, it's fallen back to test the early November breakout above $75. The established concept of "prior resistance becomes current support" rings true here. As long as the prior resistance at $75 continues to attract buying interest from those who missed last year's move, then all is well. But if the stock falls below support, I think it could just as easily fall another $15 to test $60.