Wynn-ing?With markets weak overall, NASDAQ:WYNN is one of the few stock showing strength. I have my doubts but the reward to risk ratio is just sooooooo juicy. I might get long on WYNN.
Key facts today
38.83BRL
3.55 BBRL
31.75 BBRL
94.95 M
About Wynn Resorts, Limited
Sector
Industry
CEO
Craig S. Billings
Website
Headquarters
Las Vegas
Employees (FY)
27.8 K
Founded
2002
ISIN
BRW1YNBDR000
FIGI
BBG00R3TCSM4
Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.
3 years symmetrical triangle approaching breakoutVery good earnings pushed price higher and now is trading very near to upper border
Symmetrical triangle are neutral formation and breakout can happen up or down, the only sure thing is that price will move with strenght
$WYNN Breaking Out?NASDAQ:WYNN Looks like it may be breaking out over the horizontal area of resistance. The 40 Week MA is just above and would be nice if it can break above that too. It is above all shorter term Moving Averages including the 50 Day MA in red.
Wynn is rated as an outperform or buy by many brokerage
WYNN - nice falling wedgeWYNN has been trading within a falling wedge for quite some time. It is now trading near where it started the year. Oftentimes, this setup portends a reversal. MACD and RSI divergences support this.
Bearish Alert : WYNNThe hourly chart records a lower low after a double top at $111.
Emas are right now Bearish as well after the last crossover.
Waiting for the combo.
$WYNN rounding top patternNASDAQ:WYNN rounding top pattern, 20 day crossing over the 50 day moving average is a bearish down trend. next support is the 200 day moving average.
WYNN Broken support line, channel, 3 attempts to recover resulting in 3 inverted hammers rejections on support turned to resistance it seems, PT $94 $92 $85 respectively unless it recovers the channel. Risk reward favors a trade short risking daily lose above 102
WYNNLong-term WYNN looking vulnerable. Chart kind of speaks for itself. Still a few days left in the month, but this looks like resumption of a downtrend to me. Invalidated above $118.
$WYNN - Double inside day & Launchpad setupSince the market seems to be in a 'confirmed' uptrend (HH & HL + increase in breadth), it's time to be bullish again!
Top idea for next week: Wynn Resorts ( NASDAQ:WYNN )
Buy with break of the High of the day c. 110.4
Reasons:
- Double inside day in the upper wick of a positive High Volume can
$WYNN: Short signal, potential reversalVery interesting short signal formed in NASDAQ:WYNN here.
The fact that triggered after an extended rally, suggests it could be a low risk entry to try and capture a correction or reversal of the entire move up since the China reopening narrative kicked off...
Best of luck!
Cheers,
Ivan Labrie
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