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Downtrend ResistanceArchive
- 5/10/2024 -
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Wynn Resorts Ltd. (WYNN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Wynn Resorts Ltd. (WYNN). During the week, the WYNN gave back -0.32 points, or -0.33%, and closed at 96.39 on Friday, May 10, 2024. Weekly volume was 25% above average.
WYNN is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 62.10 and resistance is at 105.29. 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 uptrend had started on November 10, 2023 at 81.65 and reached 110.38 on April 4, 2024. WYNN gained -28.73 points, or -35.19%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (108.14) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See WYNN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 26, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 May 1, 2024 at 91.35 and reached 98.68 on May 6, 2024. WYNN gained -7.33 points, or -8.02%, in 5 days. The price is now at the 31.24% retracement level.
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.
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.
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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