Wynn Resorts (WYNN) A Harmonic gamble ??
In early December WYNN was down nearly 50% from its high last year. Wynn Resorts has been one of the poster children of COVID related economic victims.
A recent 23% drop, recovery and rally from a higher low suggests a possible short term bottom is in.
This Gartley is a developing pattern and as such has a lower success rate than if it were fully developed.
Let this get a head of stream and a suggested entry is above the $84 area.
A potential target reversal area for a fully Gartley is marked.
As suggested, there is a 1.6x risk/reward ratio.
Always watch and go with the direction of general markets with particular emphasis to COVID case numbers, trends and restrictions.
Do your own due diligence .
This is educational not investment advice.
S.
A recent 23% drop, recovery and rally from a higher low suggests a possible short term bottom is in.
This Gartley is a developing pattern and as such has a lower success rate than if it were fully developed.
Let this get a head of stream and a suggested entry is above the $84 area.
A potential target reversal area for a fully Gartley is marked.
As suggested, there is a 1.6x risk/reward ratio.
Always watch and go with the direction of general markets with particular emphasis to COVID case numbers, trends and restrictions.
Do your own due diligence .
This is educational not investment advice.
S.
Note
For better or worse.. in the tradeNote
Note
Had an ok run.. softness here....Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.