Wynn Resorts (WYNN) Trade Idea 4.25.2017
Updated
With Wynn Resorts (WYNN) continuing a relatively strong uptrend its bullish reversal move on 2/27/2017, the ticker pulled back almost to a closeout point at its middle offset moving average.
But opportunity struck today with the only open risk remaining on earnings. The stock pulled a large momentum move as we scanned following our loss on Netflix (NFLX). We liked the less than $4 risk for the stock and were willing to take the gap risk on earnings giving us an overall proprietary rating of MODERATE based upon price to stop-loss, institutional sentiment, and the projections for the quarter. The main risk that has caused WYNN to be quite the volatile stock in the past couple of years is its Macau operation and the controversy that has since simmered.
We actually like Wynn for a long term investment due to the healthy dividend it pays and the constant purchases of stock by Steve Wynn himself since the company went public.
See more from our link on our Profile page
But opportunity struck today with the only open risk remaining on earnings. The stock pulled a large momentum move as we scanned following our loss on Netflix (NFLX). We liked the less than $4 risk for the stock and were willing to take the gap risk on earnings giving us an overall proprietary rating of MODERATE based upon price to stop-loss, institutional sentiment, and the projections for the quarter. The main risk that has caused WYNN to be quite the volatile stock in the past couple of years is its Macau operation and the controversy that has since simmered.
We actually like Wynn for a long term investment due to the healthy dividend it pays and the constant purchases of stock by Steve Wynn himself since the company went public.
See more from our link on our Profile page
Trade active
Trade closed: target reached
Closed on Friday for full profit - commissions
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