Followers | 679 |
Posts | 140715 |
Boards Moderated | 37 |
Alias Born | 03/10/2004 |
Friday, November 20, 2020 4:08:49 PM
By: TheStreet | November 19, 2020
Wynn Resorts looks set to rally further in the months ahead.
During "Mad Money" on Wednesday, a caller asked Jim Cramer about MGM Resorts (MGM) . Cramer bet on Wynn (WYNN) .
"I feel strongly that because China is coming back, we need to be in Wynn Resorts," was Cramer's response.
Let's check out the charts and indicators of WYNN.
We last reviewed the charts of WYNN on Sept. 18 and wrote that, the charts of WYNN "are bearish and this does not look like the time to gamble on a rally. Look for lower prices in the weeks ahead."
In this updated daily bar chart of WYNN, below, we can see that prices did not perk up until this month. Prices gapped above the declining 200-day moving average line and now stand above the rising 50-day moving average. Trading volume spiked higher with the price gap and the On-Balance-Volume (OBV) line now shows a rising pattern from late September telling us that buyers of WYNN have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator has given us an outright-buy signal this month, as it crossed above the zero-line from below, The chart of WYNN will look stronger when it can close above its June high.
In this weekly bar chart of WYNN, below, we can see an improvement since September. Prices are now above the declining 40-week moving average line. The weekly OBV line is not far from making a new high for this year and the MACD oscillator is close to a test or even a cross of the zero-line.
In this daily Point and Figure chart of WYNN, below, we can see a potential upside price target in the $174 area. A trade at $106.54 will refresh the uptrend.
Bottom line strategy: The charts of WYNN have improved since our last inspection. With weakness in the broad market traders need not rush into the long side. Wait for a pullback to $90 and then risk a close below $80. Consider adding to longs above the June high. The $175 area is our longer-term target for the second half of 2021.
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. Caveat emptor!
• 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
VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023 • VPRB • Apr 19, 2024 11:24 AM
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM