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WYNN RESORTSDRNWYNN RESORTSDRNWYNN RESORTSDRN

WYNN RESORTSDRN

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W1YN34 trade ideas

No mood to gambleWith the worry of interest rate hike, businessmen are in no mood to entertain themselves in the gaming and hospitality industry - which is evidenced by the freefalling price of Wynn Resorts. The Institutional House laughed the loudest as they initiated their short position almost at the top of the uptrend channel, and scale up more once moving averages are turning southeast. And momentum trader are the final group of large fund that deliver this "knockout blow" within short term. 3 support levels to take note: a. around 171.99, failure to hold b. lower support of uptrend channel around 160, failure to hold c. 200 ema will be the last line of defence
NASDAQ:WYNNShort
by jangseohee
14
$WYNN potential short setup Monthly chart showing weakness with the trend bearish, price broke under the $100 round number and has support at key $90 pivot level which has acted as both support and resistance several times. Weekly chart is bearish making LL and LH as well as trending under the 200 weekly ema. The daily is trending strongly with several unfilled gaps down showcasing weakness. Waiting for a break below the recent swing low at $93.59 and break and close of key $90 level before considering a starter short targeting the $40 level. One to watch in the next couple of months!
NASDAQ:WYNNShort
by UnknownUnicorn113713
WYNN - Watch closely!Weekly candle chart... Supports are the supporting trend line and the 200 week moving average. The resistance is the 50 day moving average (NOT SHOWN). The convergence of the supports and resistance levels will force a reaction most likely in one direction or the other. I don't like entering here...I'd wait and see how it plays out. Ideally, we will see a break above the 50 day moving average on volume and the 200 week ROC become for positive. But if not, be careful. You will also notice what appears to be a giant cup and handle formation, which, upon it's breakout (shown) behaved as such.
NASDAQ:WYNN
by UnknownUnicorn139115
Wynn Resorts WYNN Rolled over after earnings - downside targetsWYNN had a decent rally after earnings to squeeze out the short sellers that were leaning on it due to lowered guidance over the past few months. Note how WYNN has lifted above key resistance from the past two earnings releases at 206.50 and 209.00 (green lines to the right of the EPS triangle) and yet once again has rolled over under the latest earnings release at 213. So, I may be jumping the gun here but given this setup and the weak revenues in Macau leading to potentially lower future earnings estimates, but the trade has reasonable risk/reward parameters. 190 target (down 19 pts) versus risk (up 4 pts) for a ratio that is nearly 5:1. The Range Movement line is not strongly down, but still in a downtrend since it hasn't hit a 2-month high. Tim 3:42PM EST 8/5/2014 Stop 215 Target <190 Last 208.77 bid 3:36PM EST 8/5/2014 Tuesday
NASDAQ:WYNNShort
by timwest
1