Thread: WYNN - Wynn Resorts - Chart Analysis

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  1. #1

    Default WYNN - Wynn Resorts - Chart Analysis

    My current synopsis of the Wynn Resorts stock chart - WYNN.

    Ideally we get a parabolic breakout to play both long and short. I like the increased range. If this was a lower priced stock I would suggest that it looks primed to squeeze shorts who chased the recent selloff. These kind of moves can be pretty powerful. Notice the 2nd 'trend' was steeper than the 1st trend. Well the 3rd 'trend' can almost be straight up IF panic buying sets in, both from retail investors chasing it up and shorts forced to take their loss.

    Create a plan of action before you trade. Pick your risk tolerance before entering and be prepared to sell on the way up as it could be fierce and quick. Good Luck if you play! I will cover this in my trading room if the trade is there for us.
  2. #2

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    Putting WYNN back on watch after it gaped over the downtrend line today. Will be watching dips or continuation setups in near future.
  3. #3

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    Took a bit longer than expected, but it finally broke out convincingly over 155 this morning in my opinion. Bought shortly after open. Target still towards 170. Risk based on same breakout line, resistance turned support known as the pivot. 2 ish risk vs 15+ reward. My stop will more than likely be bumped up to my buy price though so I can't lose. Never let a winner turn into a loser.

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