WYNN - 25.41% Potential Profit - Corridor Breakout
Corridor Breakout graduating from a 2-month correction period. Note that vaccine-related news might make or break this trade, this is why I keep the stop loss fairly tight. However, I feel positive given today's news and the upside could be massive.
Target price set at a new potential resistance line.
- 3-month uptrend followed by a 2 month correction period that might be over amid positive vaccine news
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $86.84
Suggested Stop Loss $84.59
Target price $110.86
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Target price set at a new potential resistance line.
- 3-month uptrend followed by a 2 month correction period that might be over amid positive vaccine news
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $86.84
Suggested Stop Loss $84.59
Target price $110.86
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Trade active
Trade closed: target reached:
4.40% profit