WYNN RESORTS, LTD (WYNN)

Technical analysis

Price

$ 84.91

52 week range

$ 76.03 - $ 143.88

Beta

2.40

Volume/ average

5.05m/ 5.1

Sector

Consumer cyclical

Dividend

n/a

Wynn Resorts, Limited is a publicly traded American company headquartered in Nevada that develops and operates high-end hotels and casinos.


Price

Analyzing the current price of WYNN at $ 85.00 we can see that at the end of October 2021 the price broke the bearish trendline started in June 2021 and is now carrying out a back-test of it: the bullish reversal of the last days strengthens, in our opinion, the possible change in trend.

Secondly, analyzing the fluctuations from March 2020 we note how the $ 70 - $ 88 range can be read as an era of consolidation in favor of bullish upside in the medium term.

Indicators

Looking at the MACD and RSI indicators: both are diverging positively with the price. Analyzing the fluctuations from August 2021 till today we can see a decreasing price and increasing lows both on the MACD and RSI.

MACD, still below 0, is gradually recording higher lows that could soon lead to a break of 0 and a consequent confirmation in the momentum change.

RSI, also with rising lows, has just left the oversold zone.

Moving averages

In the case of WYNN we believe it is the 50 and 100 MA that give a good indication of possible trend changes.

An imminent break and close above the 50MA could serve as support for short-term bullish swings.

In addition, the intersection of the 50 with that at 100 MA gives, in our opinion, a strong indication of the possible change in trend that we think may already happen in the month of December.

Conclusions

From a technical point of view, WYNN offers in our opinion an excellent risk / return given the high market "beta".

The targets we set are levels already seen in the past and achievable, in our opinion, in the medium term.


Entry range $ 82.00 - $89.00

Target 1 $ 118.00

Target 2 $ 140.0

Stop loss $ 60.00

OTB Global Investments

7 December 2021

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