Watch LVS for a buy at $38.5

LVS looks like its going to drop for a while longer. There are no buyers now and hedgefunds are most probably taking profits.

LVS is the top 10 highest volume trading stock at the NYSE. Most trades are triggered by high speed algorithms that calculate many things including the indexes.

Currently, the algorithms seem to be set to selling mode and we are seeing a double top which will be acted on by the alogrithms.

Since the neck is at $44.5, and the double top ceiling is at $51.5, we should see a $7 drop below the neck at $44.5, and thus a target of $37.5.

However, since my fib line shows a strong support at $38, I will be placing my first buy order at $38.5.

Look up my DCF for LVS. I think the target price was $50 a few weeks ago.

With the current growth priced in, I think we should see an even higher target price.