WYNN has had quite a run.
Price is overbought on RSI set on 80.
The Rising Wedge is not valid until the bottom trendline is broken.
A rising wedge is a bearish signal. Rising wedge patterns indicate the likelihood of falling prices after a breakout through the lower trend line.
Rising wedges have both trendlines sloping upward and narrowing at the apex. Price can break up from a Rising wedge but in the end this pattern is bearish and causes an imbalance in supply and demand.
No recommendation.
Price is overbought on RSI set on 80.
The Rising Wedge is not valid until the bottom trendline is broken.
A rising wedge is a bearish signal. Rising wedge patterns indicate the likelihood of falling prices after a breakout through the lower trend line.
Rising wedges have both trendlines sloping upward and narrowing at the apex. Price can break up from a Rising wedge but in the end this pattern is bearish and causes an imbalance in supply and demand.
No recommendation.
I sold 3/4 of this today as I do not like being inside a rising wedge but plan to buy again when price corrects, and it eventually will correct )*