Followers | 679 |
Posts | 140823 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Thursday, April 11, 2019 8:02:20 AM
By: Bruce Fraser | April 10, 2019
Wynn Resorts is a favorite stock to study. WYNN tends to have big cyclical trends which repeat over and over again. These trends are wonderfully persistent in their upward and downward movements. Also prior to a major change of trend, a Cause builds for either Accumulation or Distribution. And these Causes can then be evaluated with horizontal Point and Figure (PnF) count objectives.
Wynn Resorts has a large presence in the China gaming region of Macau. Let’s have a look at the China Large-Cap Index (FXI) as a measure of the health of their domestic economy. The FXI made a final low in October 2018 after a major decline during the year. The currently rising trend is discounting future improvement in economic conditions for China. Note that Wynn Resorts (WYNN) is highly correlated to the upward and downward trends of the FXI. Now both FXI and WYNN are in steeply rising price trends.
The relative strength trend of FXI to the S&P 500 is now decidedly leading the way upward. FXI has been leadership since October. Could it be that WYNN is a leveraged approach to participating in the new rising price trend of FXI?
In October of 2018 WYNN had a Selling Climax. Selling accelerated below the channel into an Oversold condition. The Throwunder of the downward channel, into a Selling Climax also fulfilled a Distributional Point and Figure count objective. Notice the return back into the Downtrend channel with a rally into an Upthrust (UT). The Spring and a Test touched the Oversold line one last time. Then a stiff Change of Character rally took WYNN up above the Supply Line and the Resistance Line of the Accumulation. Accumulation appears to have been completed and a new uptrend has started. The recent rally has touched the top of the uptrending channel and now is Overbought. Price weakness back into the rising channel could produce another buying juncture for WYNN.
The Accumulation studied above has built a PnF cause quickly. The WYNN PnF count returns to the prior high prices. Both WYNN and FXI could be influenced by trade negotiations. Completed Accumulation, higher PnF objectives, and relative strength leadership point to a robust continuation of the uptrend. We will be patiently waiting for areas of Reaccumulation to reveal the best entry points. A rising FXI index puts a tail wind into the WYNN uptrend. These are the elements of a Campaign Candidate.
All the Best,
Bruce
@rdwyckoff
Read Full Story »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent WYNN News
- Wynn Resorts Announces Final Results of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025 • Business Wire • 03/09/2024 01:39:00 AM
- Wynn Las Vegas to Debut Culinary Festival, Revelry, Following The World's 50 Best Restaurants Awards • PR Newswire (US) • 03/06/2024 07:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:03:30 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:02:18 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:00:33 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 09:34:00 PM
- Wynn Resorts Announces Early Results of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025 • Business Wire • 02/23/2024 12:10:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:08:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:06:24 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:04:48 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 03:23:47 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 10:00:09 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 03:53:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 10:14:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 10:13:31 PM
- Wynn Resorts Announces Commencement of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025 • Business Wire • 02/08/2024 10:01:00 PM
- Wynn Resorts Announces Pricing of Private Add-On Offering of $400 Million Aggregate Principal Amount of Wynn Resorts Finance 7.125% Senior Notes due 2031 • Business Wire • 02/08/2024 10:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/08/2024 05:34:56 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 01:11:43 PM
- Wynn Resorts Announces Private Add-On Offering of $400 Million of Wynn Resorts Finance 7.125% Senior Notes due 2031 • Business Wire • 02/08/2024 12:56:00 PM
- Arm Achieves Record Revenue, PayPal Shares Plummet by More Than 9%, and Latest Updates • IH Market News • 02/08/2024 11:10:06 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/07/2024 09:07:43 PM
- Wynn Resorts, Limited Reports Fourth Quarter and Year End 2023 Results • Business Wire • 02/07/2024 09:02:00 PM
- U.S. Index Futures Dip Ahead of Key Earnings Reports, Oil Prices Climb • IH Market News • 02/07/2024 11:17:09 AM
- Wynn Resorts Recognized on FORTUNE Magazine’s 2024 List of World’s Most Admired Companies • Business Wire • 02/01/2024 06:25:00 PM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM