Learn to Evaluate Wynn Resorts (WYNN) using the Charts

August 24, 2022, 03:15 am ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Wynn Resorts (NASDAQ: WYNN) report below can help you understand how to do this. The trading plans for WYNN, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for WYNN

• Buy WYNN slightly over 58.70 target 67.23 stop loss @ 58.53 Details

The technical summary data tells us to buy WYNN near 58.70 with an upside target of 67.23. This data also tells us to set a stop loss @ 58.53 to protect against excessive loss in case the stock begins to move against the trade. 58.70 is the first level of support below 61.49 , and by rule, any test of support is a buy signal. In this case, support 58.70 is being tested, a buy signal would exist.

• Short WYNN under 67.23, target 58.70, stop loss @ 67.42 Details

The technical summary data is suggesting a short of WYNN as it gets near 67.23 with a downside target of 58.70. We should have a stop loss in place at 67.42though. 67.23 is the first level of resistance above 61.49, and by rule, any test of resistance is a short signal. In this case, if resistance 67.23 is being tested, a short signal would exist.

Swing Trading Plans for WYNN

• Buy WYNN slightly over 61.51, target 65.83, Stop Loss @ 61.33 Details

If 61.51 begins to break higher, the technical summary data tells us to buy WYNN just slightly over 61.51, with an upside target of 65.83. The data also tells us to set a stop loss @ 61.33 in case the stock turns against the trade. 61.51 is the first level of resistance above 61.49, and by rule, any break above resistance is a buy signal. In this case, 61.51, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WYNN near 61.51, target 58.70, Stop Loss @ 61.69. Details

The technical summary data is suggesting a short of WYNN if it tests 61.51 with a downside target of 58.70. We should have a stop loss in place at 61.69 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 61.51, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for WYNN

• Buy WYNN slightly over 61.51, target 65.83, Stop Loss @ 61.37 Details

If 61.51 begins to break higher, the technical summary data tells us to buy WYNN just slightly over 61.51, with an upside target of 65.83. The data also tells us to set a stop loss @ 61.37 in case the stock turns against the trade. 61.51 is the first level of resistance above 61.49, and by rule, any break above resistance is a buy signal. In this case, 61.51, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WYNN near 61.51, target 60.97, Stop Loss @ 61.65. Details

The technical summary data is suggesting a short of WYNN if it tests 61.51 with a downside target of 60.97. We should have a stop loss in place at 61.65 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 61.51, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

WYNN Ratings for August 24:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	50.35
P2	58.75	61.51	58.70
P3	60.97	65.83	67.23

Support and Resistance Plot Chart for WYNN

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