Trade Monitor For WYNN

After a pull back from the recent earnings report, WYNN has found support at the low 60s. It been trending with a higher low and could be setting up a potential swing long opportunity.

In the last trading session, it finished with an inside candle, and the high of the engulfing candle at 71.33 could be the trigger level for a potential swing long scenario. The pivot high at 77.25 that is in confluent with the 50% retracement level could be the initial resistance. A possible price target could be near the Fibonacci 61.8% retracement at 84.28 that is in confluent with the declining trendline.

(click on the chart to enlarge)


Disclosure: No position.