Phenomenal buying opportunity I always add more Wynn on pullbacks near this multiyear trend line. I bought plenty of shorter term calls on this retracement. Should be back to the mid high 180s relatively quickly.
W1YN34 trade ideas
good time to short WynnShort Wynn!
Wynn is falling on big volume on a Big upday
Stoploss: 192
TGT: 175
WYNN Bullish Pennant and Upper Support BrokenWYNN seems to have formed a bullish pennant ahead of earnings. Confirmation of a breakout would correspond to breaking an upper limit of a 2014 support channel, and would lead WYNN into the final support channel before it would retest its ATH.
As an aside: I think the blossoming economy and recent tax cuts, which have put extra money back into the pockets of citizens, gives way to an overall bullish sentiment for what I call "consumption companies". Lower taxes and a blooming economy give way to increased consumer spending, which I think Wynn has enjoyed in the past quarter. I may be going a bit too far out here, but I also think that the very harsh winter that the Midwest and East Coast is just coming out of could have fueled travel towards Las Vegas as people sought warm weather. Thus, this influx of visitors would increase traffic and spending in Wynn resorts and casinos.
WYNN will shoot up NASDAQ:WYNN
WYNN has just broker resistance. With earnings on 04.23.18 this is a great call option play. With either selling on 4.22.18 or hold for a likely jump the next day for the brave.
WYNN- Major Resistance Here +/-WYNN is another one again, crossed other resistance and is hitting a major one.
wynn looks like turned a corner ThursdayStill a mixed bad indicators but nice short squeeze Thursday. There been huge call activity in casino stocks.
WYNN - retrace over?Wynn Resorts recently went through some tough times after Steve Wynn's name was dragged through the mud. He has since stepped down as CEO and the stock looks to be stabilizing. This can potentially be a good long opportunity, given Wynn Resorts' excellent Q4 results and overall decent 2017.
This is a risky play but can potentially have very nice medium-term returns. Stop loss at $160 (the low of the retrace)
WYNN : CUP WITH A HANDLEWynn Resorts dropped 1.7% to 181.62 as it forms the handle of a cup-with-handle base with a 192.85 buy point.
WYNN will bounce a bitIt will be along the Fib line and the Fan Line. But it will continue to move down.
$WYNN dailyBroke below this trendline, and closing below...wouldnt be surprised with a test of 200dma next week.
Bullish pennant pattern on the hourlyI bought the June $200 calls today, which provided the right amount of delta to have my stop below today's gap up candle.
On the daily you can see that this gap is a gap-n-go since traders were shorting for the past 3 days (black candle gapping up). If we go higher, the bears will be forced to close their positions or take some serious pain.
Let's see how she does with the rest of the market. SPY is down about 0.50 % after hours.
Risks were mitigated with WYNN CEO stepping down.Stock too a major hit with the allegations against the CEO.
When he signed the stock jumped 7%
Today the stock is down following the market (-3%)
My major concerns with the allegations were the harm on the brand.
Current and potential future deals will be affected by the allegations against the CEO.
E.g. the hotel in Boston.
However now that the CEO stepped down, those risks are mitigated. Still there, but low. I can't imagine Boston canceling the hotel after CEO Wynn stepped down.
The risk now is that the stock is characterized to be driven soley by the CEO. I am willing to bet against that risk.
I think the stock will continue to go down as the market continues down. I will treat each downward step as an opportunity to build a position. I will start building back a position today.
