WYNN trade ideas
Absent sellers with 18% upside to close 2014 "gap"WYNN saw DISTRIBUTION into resistance April 7, 2016; however, when support was tested there was no selling pressure.
Friday's close is the highest close in 10 months.
150 sma crossed over the 200 sma in May
Bullish ascending channel
18% upside to retest demand where longer term supply is established. This would also close the April 2014 "GAP."
CnH setup w/ break of falling wedgeMight have to reconsider where I gamble. Must be all about Le Reve (jk)
Wynn Weekly still hurtWe are still seeing Wynn under its downtrend line. Lets see what the volume looks like at the end of this week
WYNN can it break this resistance?Wynn had a fast move after earnings. Its now coming its first bigger resistance on the daily chart. The daily RSI is already at 70. I am looking for a quick fade, but if the stock breaks above this level. It will have more room to run.
DOUBLE UGLY BOTTOM- PERFECT TRADE BULKOWSKICharacteristic Discussion
Price trend Downward leading to the chart pattern. For best performance, choose patterns at the bottom of the downtrend, not as part of a congestion region in an uptrend.
Shape Looks like a double bottom with unequal bottoms. The second bottom should be at least 5% higher than the first, be similar in shape, and a consecutive minor low (no intervening low).
Volume Recedes 81% of the time
Breakout Upward when price rises above the highest high between the two bottoms.
Confirmation The pattern confirms as a valid one when price closes above the peak between the two bottoms. If price does not close above the confirmation price then it's not an ugly double bottom.
Overall rank for up breakouts: 14.5 out of 23
Break even failure rate: 8%
Average rise: 34%
Throwback rate: 59%
Percentage meeting price target: 76%
The issue is - will it pop thru that 200 MA, with volume, if it does , off to the races,
thanks
Bullish Casino breakBullish, no position. Entry opportunity is probably on either A) the re-test of the top wedge or Kumo or B) on a newly established uptrend line.
I would not jump buying on a fresh high so if the bullish move remains strong. There might be no good entry until it settles, this is a very likely scenario given the Strong on High Relative Volume move (scenario B). This can quickly ran out of fuel and drop 8% back to ~64 area as a result of profit trading in a few days which is a safer long entry (scenario A)
"The company said it’s working with its contractor in Macau and still hopes its new casino in the developing Cotai district will open on June 25. The $4.1 billion Wynn Palace is one of three new casinos expected to open in 2016 from the U.S. based- companies operating there."
Insider trading:
"CEO Steve Wynn bought $31.9 million worth of Wynn Resorts (WYNN) stocks between January 20 and 22, only a month after a big block trade."
During the February 8 - 9 trading CEO added another $15 million worth to his portfolio.
WYNN IS GOING UP AND UP AND UP -MAYBE?Characteristic Discussion
Price trend Downward leading to the chart pattern. For best performance, choose patterns at the bottom of the downtrend, not as part of a congestion region in an uptrend.
Shape Looks like a double bottom with unequal bottoms. The second bottom should be at least 5% higher than the first, be similar in shape, and a consecutive minor low (no intervening low).
Volume Recedes 81% of the time
Breakout Upward when price rises above the highest high between the two bottoms.
Confirmation The pattern confirms as a valid one when price closes above the peak between the two bottoms. If price does not close above the confirmation price then it's not an ugly double bottom.
Key prices for WYNNOverall Bearish trend. There are short term opportunities at critical price levels.
WYNN Long PlaySimply wynn has beated earnings previously after having earnings misses consecutively. We have the stock picking up momentum and buying action in anticipation for the next earnings call in February. Traders have overall good sentiment in the company and are looking to get long early. Im long at C if we rally before earnings or if we have good earnings i will be long into D if im late with the trade
$WYNN Gambling on Casinos$WYNN was absolutely devastated last year. We could see an upside breakout soon.
LONG WYNNI'm long Wynn Here... breaking a down trend as well as in a tightly held wedge with positive momo and volume.
I'm targeting 125 here over the next year or two.
Huge Divergence on MACD
Ryanhasoptions
WYNN -- NONEARNINGS PREMIUM SELLING PLAYSome stuff hits my high IVR/high IV radar over and over again. WYNN is one of those, with an IVR currently at 100 and an IV at 81.
Some caution is in order, though, since ordinarily I like going 45 days out and WYNN's earnings are due to be announced on 2/2, so I want any setup to expire somewhat before that so I don't get caught in a volatility expansion (that being said, how much more can it expand?).
Here's the setup (which I'll look to take off somewhat in advance of expiry), since it's getting in a bit tight to earnings:
Jan 22nd 45/77 short strangle
POP%: 79% (ridiculous, quite frankly for a play that is nearly worth 2.00 in credit)
Max Profit: $196/contract
BPE: ~$615
BE's: 43.04/78.96
WYNN LONGTrading Plan
- Entry Rule; Higher high, higher low, bullish candle after higher low, entry if open higher than the previous day close $68.99
- Stop loss; not lower than the open price of previous day $67.12
- Target Price @ previous high $75.7
- Reward to Risk ratio 2.97
Be Careful to go short hereThough recent insider buy gave the longs a room to breathe, it was more of short-covering rally but if it fails to hold recent swing low at $61.27 it will take this back to recent multiple month low at and around $51 area but also if there is a rally into year end this will have a good chance to crash $72 zone which now is a supply zone for many to exit could take this to $112 area. www.2waytrading.com
