$WYNN Breaking Out?

Jan 5

WYNN Looks like it may be breaking out over the horizontal area of resistance. The 40 Week MA is just above and would be nice if it can break above that too. It is above all shorter term Moving Averages including the 50 Day MA in red.

Wynn is rated as an outperform or buy by many brokerage houses with price target well over $100 per share.

I have started a 1/3 size position today with a stop just under the day low. I will look to add once it gets over the 40 Week MA and consolidates. All TBD.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Jan 25

Trade active

WYNN Going for another try at this this morning as we get a MACD cross. Very tight stop of $1.00. I failed to mention I closed the last position for a very small loss.
Earnings in about a week maybe it can run. TBD.