$WYNN - Double inside day & Launchpad setup
Since 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 (
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 candle (analyst upgrade and positive news) + confluence of 10,21 and 50 day (launchpad)
- Tight consolidation with shakeout since the beginning of february
- Bullish momentum since november
- Positive Earning momentum + good fundamentals (EPS q/q & sales >30%)
Stop-loss:
- Low of the second inside day 108.98
- If breakout happens, stop loss could be 10day MA or AVWAP of HV day
PT:
- First area of resistance ca. 117 (partial)
- Fibs: 125
- Or following the 10/21 MA
Follow price and volume + fundamentals!
No investment advice
Top idea for next week: Wynn Resorts (
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 candle (analyst upgrade and positive news) + confluence of 10,21 and 50 day (launchpad)
- Tight consolidation with shakeout since the beginning of february
- Bullish momentum since november
- Positive Earning momentum + good fundamentals (EPS q/q & sales >30%)
Stop-loss:
- Low of the second inside day 108.98
- If breakout happens, stop loss could be 10day MA or AVWAP of HV day
PT:
- First area of resistance ca. 117 (partial)
- Fibs: 125
- Or following the 10/21 MA
Follow price and volume + fundamentals!
No investment advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.