All In on WYNN!Wynn Resorts is showing strong bullish momentum, with a gap forming around the $88.00 level. A breakout above the $110.00 resistance would confirm further strength, positioning the stock to target the $153.41 monthly resistance. This setup offers an attractive risk-to-reward ratio, with a stop-loss set at $79.71 to manage downside risk.
Wynn Resorts is well-positioned to benefit from the recovery in global travel and tourism, particularly with its premier resorts in Macau and Las Vegas. As consumer spending on leisure and entertainment rebounds, Wynn’s strong brand and luxury offerings provide a competitive edge. Additionally, the company’s focus on expanding its integrated resort portfolio and capturing growing demand for gaming and hospitality strengthens its long-term growth potential.
This combination of technical momentum and favorable industry fundamentals supports a bullish push toward $153.41, making it an appealing opportunity for investors.
NASDAQ:WYNN
WYNN trade ideas
Long swingI'm deploying a multi-timeframe approach here, focusing on a swing trade setup that aligns with both trend and momentum indicators. Here's the core of the strategy:
Entry Criteria: I look to enter on a break above a recent higher high combined with a flat to rising 5-day moving average. Additionally, I’m observing the anchored VWAP from the most recent high (to the left on the chart); it should ideally be flat or rising to confirm sustained interest.
Volume and Price Requirements: Only trading stocks with at least 300,000 shares in daily volume and a price above $3, ensuring liquidity and relevance for momentum.
Trend Confirmation: On the daily timeframe, the stock must be making higher highs and fall within an early Stage 2 uptrend based on Stage Analysis, indicating the start of an uptrend.
Stop Loss: My stop is set just below a recent significant low (higher low) on the 30-minute chart to keep risk in check. If this low is penetrated before entry, I cancel the trade to avoid premature breakdowns.
WYNN from $90 to 80MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price at top of channel (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at overbought level
TTM Squeeze is off
TTM Squeeze momentum is spiked up
VBSM is spiked positive
Impulse MACD is spiked to the upside
Price at near 4.618 Fibonacci level
In at $90
Target is $80 or channel bottom
$WYNN Breaking Out?NASDAQ:WYNN Looks like it may be breaking out over the horizontal area of resistance. The 40 Week MA is just above and would be nice if it can break above that too. It is above all shorter term Moving Averages including the 50 Day MA in red.
Wynn is rated as an outperform or buy by many brokerage houses with price target well over $100 per share.
I have started a 1/3 size position today with a stop just under the day low. I will look to add once it gets over the 40 Week MA and consolidates. All TBD.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
$WYNN - Double inside day & Launchpad setupSince 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 ( NASDAQ: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
$WYNN: Short signal, potential reversalVery interesting short signal formed in NASDAQ:WYNN here.
The fact that triggered after an extended rally, suggests it could be a low risk entry to try and capture a correction or reversal of the entire move up since the China reopening narrative kicked off...
Best of luck!
Cheers,
Ivan Labrie.
Watchlist 2023-04-03 $SPY $RIG $ISEE $RUM $ASTS $WYNNSPY - finished strong last week with a wide body bar holding most of the gains and ending over the key resistance levels.
Remember, for a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900.
Oil stocks - higher as a group with crude trading up more than 6% premarket the move following a surprising announcement by OPEC+ to cut more 1.1m barrels per day of current production, which had a jolting effect on the O/R markets.
$RIG - secures contracts worth 113 mil. _ news from 4 days ago but paired with the oil production cuts and the daily buy setup this looks poised to rise. Most of the other oil names look extended into supply areas. Only looking for support retest trades other than with RIG.
$ISEE - no news that I can see (no pun indented) but gapping into yearly highs with room to fill the unfilled gap form 2022, at 30. Up 2,5 ATRs at 1.3 RVOL. If RVOl picks up there could be a BO trade for a trade through the opening print.
Other Watches
$ASTS - over 5.36
$RUM - over 10.50
$WYNN - over 116.50 after consolidation, don't want to take the first break
WYNN - Trend PullbackTrade Theme Wave pullback in G/G Trend
Sector/Stock WYNN
Trend G/G
Propulsion 34
Vscore Close
Vprofile Close
RAF 50%
Darvas No
Darvas 3.0 Yes
Entry 107.51 Breakout Look for 5% and 10% Option Price Pullback Entry
Profit/Breakeven 111.2 50% Fib retracement
Stop Loss 25%
Option 19May23 105 Call
Good wave pullback entry in a strong section (MGM, LVS, WYN). Looking for a breakout of 107.51, pullback to get a better entry price and then hold long.
Overbought/Rising WedgeWYNN has had quite a run.
Price is overbought on RSI set on 80.
The Rising Wedge is not valid until the bottom trendline is broken.
A rising wedge is a bearish signal. Rising wedge patterns indicate the likelihood of falling prices after a breakout through the lower trend line.
Rising wedges have both trendlines sloping upward and narrowing at the apex. Price can break up from a Rising wedge but in the end this pattern is bearish and causes an imbalance in supply and demand.
No recommendation.
WYNN 6 JAN 23 85/ 20 JAN 23 80BULL PULLBACK SET UP:
Since about the end of June this year, WYNN looks like its been gaining momentum towards the upside. At the beginning of November, the 20 day crossed over and upward movement continued bringing it back to the upward trend line from the June/July lows and is now high basing with a pull back to the 9 day and area of support at 75ish.
The bull pull back brought this stock back to an area of support at 75ish and today it's trading above the previous days candle triggering an entry at 78ish.
No stops will be applied as I will be positioned sized for max loss.
DIAGONAL SPREAD STRATEGY:
Even though the entire market is down today, This stock held up pretty well today which is part of the reason I got in. It likes this 78 area and looking like it wants to break out of here.
Because it gapped higher from the previous days high and held up on a down day, it solidified my entry and timeframe.
My target was determined by being aware of my higher upward trend line that was also recognized multiple days the back half of July. A couple outcomes I had in mind. My first, is that we break out of this resistance area of 78 within 2-3 weeks. We could possibly base between 75 and 78 this week and then breakout. Second outcome could be that we pull back more to the 20 day or 50 day and test the lower upward trend I drew by.... lets say..... by December 9th or 19th, that would be around the 71 or 72 area and then continue higher between this channel to get to 85 six weeks from today.
So if this decides to go against me and fall apart, I'll be set up for max loss and I'll move on to the next trade.
If this trades sideways for the next few weeks I'll still have enough time for this to break out. If not, I'm set up for max loss.
If this goes higher than my 85 target, I'll close out the entire combo before the 6th. I'll also watch this if this decides to fall back down into the apex of the trade.
Wynn Resorts (NASDAQ: $WYNN) Showing Mucho Bullish Divergence!🎰Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays. Its Wynn Macau segment operates 252,000 square feet of casino space with 331 table games, 818 slot machines, private gaming salons, sky casinos, and a poker room; two luxury hotel towers with 1,010 guest rooms and suites that include two health clubs, two spas, a salon, and a pool; 14 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; and Chinese zodiac-inspired ceiling attractions. Its Las Vegas Operations segment operates 194,000 square feet of casino space with 223 table games, 1,751 slot machines, private gaming salons, a sky casino, a poker room, and a race and sports book; two luxury hotel towers with 4,748 guest rooms, suites, and villas, including swimming pools, private cabanas, two full service spas and salons, and a wedding chapel; 32 food and beverage outlets; 513,000 square feet of meeting and convention space; 155,000 square feet of retail space; and two theaters, three nightclubs and a beach club. Its Encore Boston Harbor segment operates 211,000 square feet of casino space with 184 table games, 2,766 slot machines, gaming areas, and a poker room; a luxury hotel tower with 671 guest rooms and suites, including a spa and salon; 15 food and beverage outlets and a nightclub; 10,000 square feet of retail space; 71,000 square feet of meeting and convention space; and a waterfront park, floral displays, and water shuttle service. The company was founded in 2002 and is based in Las Vegas, Nevada.