Chart of the week
Date: 04/05/2010
Symbol: WYNN
Company Profile: Wynn Resorts, Limited, together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts.
Sector: Services
Industry: Resorts & Casinos
TRADING PLAN
Entry price: long above 78.00
Stop price: stop under 75.50
Target: 90-100 areas
Chart explanation: WYNN formed continuation pattern on weekly time frame, but also we can see that consolidate several months under and that small weekly bar is trading plan. On the daily chart it is triangle and need to stay above 10sma what will be stop. In case that market will start with exhaustion move what I described in market commentary I believe that WYNN could follow it and monthly time frame chart support that possibility
If anyone have any question or need update feel contact me over email or in the live trading room.
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
Date: 04/05/2010
Symbol: WYNN
Company Profile: Wynn Resorts, Limited, together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts.
Sector: Services
Industry: Resorts & Casinos
TRADING PLAN
Entry price: long above 78.00
Stop price: stop under 75.50
Target: 90-100 areas
Chart explanation: WYNN formed continuation pattern on weekly time frame, but also we can see that consolidate several months under and that small weekly bar is trading plan. On the daily chart it is triangle and need to stay above 10sma what will be stop. In case that market will start with exhaustion move what I described in market commentary I believe that WYNN could follow it and monthly time frame chart support that possibility
If anyone have any question or need update feel contact me over email or in the live trading room.
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
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