Wynn Resorts recently went through some tough times after Steve Wynn's name was dragged through the mud. He has since stepped down as CEO and the stock looks to be stabilizing. This can potentially be a good long opportunity, given Wynn Resorts' excellent Q4 results and overall decent 2017.
This is a risky play but can potentially have very nice medium-term returns. Stop loss at $160 (the low of the retrace)
Trade closed: target reached
⋅
My initial target was reached. It was a rather quick ride up, and now the price is retracing.