Las Vegas Sands stock saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 78 to 94.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating at the beginning of a new climb.
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Is Las Vegas Sands Stock A Buy?
Las Vegas Sands broke out earlier, but has fallen back below the prior 40.08 entry from a flat base. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Although earnings and sales growth came in at -30% and -11%, respectively, in the latest report, that marked acceleration for both the top and bottom lines. The company is expected to report its next quarterly numbers on or around Oct. 20.
Las Vegas Sands stock earns the No. 8 rank among its peers in the Leisure-Gaming/Equipment industry group. Canterbury Park, Churchill Downs and Monarch Casino & Resort are among the top 5 highly rated stocks within the group.
