NEW YORK (TheStreet) -- Shares of Las Vegas Sands  (LVS - Get Report) are up 1.44% to $39.57 in afternoon trading on Monday, recovering from its decline last week following the release of the latest revenue numbers from Macau.

Casino stocks have been hurt recently by dwindling returns from the Macau gaming region in China. Last week it was reported that casino revenue in Macau fell for the 19th-consecutive month. The recent downturn of China's stocks have only served to further erode confidence in American casinos like LVS that have heavy exposure in the region. 

TheStreet Ratings team lowered LVS rating today to "hold" from "buy" while also lowering its letter grade to C from B-. While TheStreet acknowledged that Las Vegas Sands has certain strengths, there were several factors that lead to the lowered outlook.

"The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and generally higher debt management risk," TheStreet said. 

TheStreet chartist Bruce Kamich recently commented on the company's chart, noting its bearish indicators.

"This longer-term chart of LVS, above, is not encouraging. Prices have been in a downtrend for the past two years. The slope of the 40-week moving average is bearish and prices have been below the moving average for maybe a year and a half," Kamich said.

"This time frame makes the other panels hard to see, but the On-Balance-Volume (OBV) line and the Moving Average Convergence Divergence oscillator are also bearish. LVS has broken the 2014 support level and is testing the support from 2011 and 2012. It is not out of the realm of possibility that LVS declines further to retest $15," Kamich added.