115~117 is a better entry for next leg up to 130+WYNN -ve divergences here and has to clear it before next leg up.
Most likely another 2 weeks to let May options expired by then.
120 is around 50% Fib support for now.
W1YN34 trade ideas
Wynn Resorts (WYNN) Trade Idea 4.25.2017With 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 $4 risk for the stock and were willing to take the gap risk on earnings giving us an overall proprietary rating of MODERATE based upon price to stop-loss, institutional sentiment, and the projections for the quarter. The main risk that has caused WYNN to be quite the volatile stock in the past couple of years is its Macau operation and the controversy that has since simmered.
We actually like Wynn for a long term investment due to the healthy dividend it pays and the constant purchases of stock by Steve Wynn himself since the company went public.
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$WYNN Has Bottomed - Buy Alert triggered for the 2nd time. NASDAQ:WYNN BotTrigger officiated a buy alert on WYNN in the $85 area and has since added with a secondary buy alert. Holding above this year long consolidation box is bullish. Everyone thinking WYNN needs to retest the mid 80s again can just forget about that notion. Probability suggests higher prices coming on this name. Long term players should appreciate the upside potential here
$WYNN ellipse breakoutText-book ellipse breakout with expanding volume, what a beauty! Huge upside potential, $PENN is looking wonderful too.
Yeah I said it....ellipse breakout!!
WYNNThe company is engaged in gambling in the Chinese province of Macau. Already repeatedly wrote that the main risk I see is in the Chinese market. And so it's a very promising action. At the moment a long bull pattern is formed in case of breakup you can open a position. The idea is for long-term investment
