MirkenMuffley
Long

DOUBLE UGLY BOTTOM- PERFECT TRADE BULKOWSKI

NASDAQ:WYNN   WYNN RESORTS LTD
104 0 0
Characteristic Discussion
Price trend Downward leading to the chart pattern. For best performance, choose patterns at the bottom of the downtrend, not as part of a congestion region in an uptrend.
Shape Looks like a double bottom with unequal bottoms. The second bottom should be at least 5% higher than the first, be similar in shape, and a consecutive minor low (no intervening low).
Volume Recedes 81% of the time
Breakout Upward when price rises above the highest high between the two bottoms.
Confirmation The pattern confirms as a valid one when price closes above the peak between the two bottoms. If price does not close above the confirmation price then it's not an ugly double bottom .

Overall rank for up breakouts: 14.5 out of 23
Break even failure rate: 8%
Average rise: 34%
Throwback rate: 59%
Percentage meeting price target: 76%

The issue is - will it pop thru that 200 MA, with volume , if it does , off to the races,

thanks
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