Wynn Resorts, Limited (NASDAQ:WYNN) 2019 Outlook
Overall, the bias in prices is: Downwards.
The projected upper bound is: 133.72.
The projected lower bound is: 47.09.
The projected closing price is: 95.41.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with WYNN RESORTS), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 12.6895. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 11 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 37.27. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 6 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -141.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.
Rex Takasugi – TD Profile
WYNN RESORTS closed down -12.160 at 97.240. Volume was 14% above average (neutral) and Bollinger Bands were 1% narrower than normal.
Open High Low Close Volume___
117.970 122.000 90.060 97.240 59,182,672
Short Term: Oversold
Intermediate Term: Bearish
Long Term: (ERROR: Function did not return a value)(ERROR: Function did not return a value)
Moving Averages: 10-period 50-period 200-period
Close: 148.13 119.55(ERROR: Function did not return a value)
Volatility: 208 235(ERROR: Function did not return a value)
Volume: 59,142,208 60,803,684(ERROR: Function did not return a value)
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
WYNN RESORTS is currently (ERROR: Function did not return a value)% (ERROR: Function did not return a value) its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of WYNN.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on WYNN.O and have had this outlook for the last 0 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.