Today the online stock trader was busy trading LVS, Las Vegas Sands Corp. This stock gave a nice short selling signal on the daily chart as seen below. This is one of the online trader’s favorite technical stock patterns and will be designated as a BS1 setup, or Bear short 1 for future reference. This pattern in Las Vegas Sands Corp is nice because yesterday the stock closed near it’s high. Bulls were in charge and a reversal was thought to be in the making. Today, the stock gapped down below the prior day’s low. Those bulls got caught long and are wanting out of the stock causing selling pressure.
So how was this stock entered? You’ve got your first technical stock pattern on the daily chart. Next, the online stock trader evaluated intraday charts for his trading entry point.