$WYNN weekly chart bullish breakout #stock #chart
$WYNN stock price has bottomed in DEC'18 and then after the local top in APR'19 started to trade inside a symmetrical triangle and in the same time descend inside a parallel channel
Last week on the back of the US-China trade agreement and more important , on news that president Xi will visit Macau for 3 days and unveil a plan for further development and investment ( all is linked with the 20th anniversary of the return of Macau to China) stock price broke trough the descending line of both triangle and parallel channel and even more important CLOSE above both
MACD and RSI are both very supportive for further move upwards( RSI at only 58, keep in mind is a weekly chart, MACD just turning positive with histogram green for over a month)
Targets are :
T1 - lower top of the mirror parallel channel at around 165
T2 - calculated move from the breakout of the triangle at around 187.7
Good luck,
TA
Last week on the back of the US-China trade agreement and more important , on news that president Xi will visit Macau for 3 days and unveil a plan for further development and investment ( all is linked with the 20th anniversary of the return of Macau to China) stock price broke trough the descending line of both triangle and parallel channel and even more important CLOSE above both
MACD and RSI are both very supportive for further move upwards( RSI at only 58, keep in mind is a weekly chart, MACD just turning positive with histogram green for over a month)
Targets are :
T1 - lower top of the mirror parallel channel at around 165
T2 - calculated move from the breakout of the triangle at around 187.7
Good luck,
TA
Trade closed: stop reached:
With the pandemic stock had no chance so ...