SubZero

Bullish Casino break

NASDAQ:WYNN   WYNN RESORTS LTD
20 0 0
Bullish , no position. Entry opportunity is probably on either A) the re-test of the top wedge or Kumo or B) on a newly established uptrend line.

I would not jump buying on a fresh high so if the bullish move remains strong. There might be no good entry until it settles, this is a very likely scenario given the Strong on High Relative Volume move (scenario B). This can quickly ran out of fuel and drop 8% back to ~64 area as a result of profit trading in a few days which is a safer long entry (scenario A)

"The company said it’s working with its contractor in Macau and still hopes its new casino in the developing Cotai district will open on June 25. The $4.1 billion Wynn Palace is one of three new casinos expected to open in 2016 from the U.S. based- companies operating there."

Insider trading:
"CEO Steve Wynn bought $31.9 million worth of Wynn Resorts             (WYNN) stocks between January 20 and 22, only a month after a big block trade."

During the February 8 - 9 trading CEO             added another $15 million worth to his portfolio.

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