The Greedy Trader Weekly Analysis
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Uptrend Broken Support

Uptrend Broken Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

Archive
- 3/15/2024 -
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Wynn Resorts Ltd. (WYNN) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :The price has risen above the Parabolic SARPrice is close to the 50 Day Moving Average
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It was the negative week for the Wynn Resorts Ltd. (WYNN). During the week, the WYNN dropped -1.34 points, or -1.33%, and closed at 99.09 on Friday, March 15, 2024. WYNN was trading at average weekly trading volume.

Long-term trend: [See WYNN long-term trend chart]
A long-term downtrend had started on January 25, 2018 at 203.63 and reached 35.84 on March 18, 2020. WYNN lost 167.79 points, or 82.40%, in 111 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (61.11) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See WYNN medium-term trend chart]
A medium-term uptrend had started on June 23, 2022 at 50.20 and reached 117.86 on May 1, 2023. WYNN gained -67.66 points, or -134.78%, in 44 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 88.79 and resistance is at 144.37. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending 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 December 22, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See WYNN short-term trend chart]
A short-term downtrend had started on February 8, 2024 at 108.76 and reached 98.10 on March 5, 2024. WYNN lost 10.66 points, or 9.80%, in 26 days. The price is now at the 9.29% retracement level.

Daily Technical Indicators: [See WYNN daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 20, 2024. This is an indication that the short-term trend is down.

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.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.96
Williams' Percentage Range (W%R) 78.00
Lane's Stochastic (%D-Slow) 52.65
Greed/Fear Indicator (GFI) 37.85
Moving Average Converg./Diverg. (MACD) 0.77
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.03
Williams' Percentage Range (W%R) 32.70
Lane's Stochastic (%D-Slow) 69.11
Greed/Fear Indicator (GFI) 64.19
Moving Average Converg./Diverg. (MACD) 0.32
Trading Signals
Description Value Chart
Upper Bollinger Band 104.90
Parabolic System 104.73
Weekly Stochastic Crossing 102.81
20 Day Moving Average 102.07
Daily Stochastic Crossing 101.55
50 Day Moving Average 99.25
Price 99.09
Lower Bollinger Band 97.77
Monthly Trendline Resistance 92.92
Quarterly Trendline Support 88.79
Yearly Trendline Resistance 86.56
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Casinos & Gaming 40
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 108.76
High Date 02/08/2024
Low 98.10
Low Date 03/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 81.65
Low Date 11/10/2023
High 108.76
High Date 02/08/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 92.92
Support 72.24
High 117.86
High Date 05/01/2023
Low 81.65
Low Date 11/10/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 144.37
Support 88.79
Low 50.20
Low Date 06/23/2022
High 117.86
High Date 05/01/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 86.56
Support 61.11
High 203.63
High Date 01/25/2018
Low 35.84
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.