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Archive
- 4/5/2024 -
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Wynn Resorts Ltd. (WYNN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third positive week after 5 consecutive negative weeks for the Wynn Resorts Ltd. (WYNN). During the week, the WYNN gained 5.23 points, or 5.12%, and closed at 107.46 on Friday, April 5, 2024. It was the best weekly gain since February 9, 2024. Weekly volume was -6% below average.
 Long-term trend: [See WYNN long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 35.84 and reached 143.88 on March 15, 2021. WYNN gained -108.04 points, or -301.45%, in 51 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (106.50). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See WYNN medium-term trend chart]
A medium-term downtrend had started on May 1, 2023 at 117.86 and reached 81.65 on November 10, 2023. WYNN lost 36.21 points, or 30.72%, in 27 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (70.69) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. WYNN may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See WYNN weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 22, 2023. Use the following link to access a MACD help.
 Short-term trend: [See WYNN short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 98.10 and reached 110.38 on April 4, 2024. WYNN gained -12.28 points, or -12.52%, in 30 days. The chart has formed a Symmetric Triangle chart pattern.
 Daily Technical Indicators: [See WYNN daily technical indicators chart]
Daily Relative Strength Index is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since March 27, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
 Candlestick pattern: [See WYNN candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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