1 week Chart Wars: Will Las Vegas Sands Or Wynn Resorts Stock Stage A Bigger Rebound Following Macau Bill? Benzinga    

On Friday, Las Vegas Sands Corp (NYSE: LVS) and Wynn Resorts Ltd (NASDAQ: WYNN) gapped up over 12% and 8%, respectively, off their Thursday’s closing price after bullish news for the casino industry came out of Macau.

Until Friday, both stocks have been trading in steep downtrends with Las Vegas Sands plummeting about 50% and Wynn declining 45% since early March 2021 when the stocks looked to be rebounding from the March 2020 market crash caused by the onset of the COVID-19 pandemic.

Las Vegas Sands is currently trading down near its pandemic lows once again and Wynn has been unable to gain any traction to make a trend change. On Friday, however, the gap ups helped both stocks to confirm an uptrend on both their daily and weekly charts, which could indicate bullish sentiment will return to boost the stocks up over the long-term.

It should be noted, however, that events such the general markets turning bearish, negative reactions to earnings prints and negative news headlines about a stock can quickly invalidate bullish …

Full story available on Benzinga.com

Read full article Chart Wars: Will Las Vegas Sands Or Wynn Resorts Stock Stage A Bigger Rebound Following Macau Bill? and don't miss , and other topics, financial news headlines, business stories, opinions and trade analysis on Market Insider.

·