jangseohee
Short

No mood to gamble

NASDAQ:WYNN   WYNN RESORTS LTD
181 14 5
With the worry of interest rate hike, businessmen are in no mood to entertain themselves in the gaming and hospitality industry - which is evidenced by the freefalling price of Wynn Resorts             .
The Institutional House laughed the loudest as they initiated their short position almost at the top of the uptrend channel , and scale up more once moving averages are turning southeast. And momentum trader are the final group of large fund that deliver this "knockout blow" within short term.

3 support levels to take note:

a. around 171.99, failure to hold
b. lower support of uptrend channel around 160, failure to hold
c. 200 ema will be the last line of defence
Comment: @G13Man
Comment:

linear wedge view
+1 Reply

long at 93.80 when price hit neckline
Reply
90-93 is the major support cum neckline
Reply

patient to wait for another better entry
neckline 93-94
Reply
jangseohee jangseohee
yummy profits, i am out ^_^
Reply
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