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Archive
- 11/22/2024 -
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Wynn Resorts Ltd. (WYNN) Technical Analysis
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| Summary:
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| | It was a second positive week after 5 consecutive negative weeks for the Wynn Resorts Ltd. (WYNN). During the week, the WYNN climbed 0.55 points, or 0.61%, and closed at 91.29 on Friday, November 22, 2024. Weekly volume was -18% 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 trend support level is at 65.52 and resistance is at 98.68. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern 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 71.63 on August 5, 2024. WYNN lost 46.23 points, or 39.22%, in 66 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 67.34 and resistance is at 105.18. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See WYNN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since September 20, 2024. 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 August 5, 2024 at 71.63 and reached 107.81 on October 7, 2024. WYNN gained -36.18 points, or -50.51%, in 63 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 85.69 and resistance is at 131.09. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See WYNN daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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