Who else trades WYNN?
- Thread starter TheROTrader
- Start date
all you have to do is buy in front of the support levels and get out when it breaks.........easier done than said
If it opens up above 51 and breaks through that resistance get long, otherwise if it holds go short and hang on for a few points
Special dividend aside, it just broke 70 today.
I don't think it makes sense to look at support and resistance across a dividend without adjustment, especially one as big as this. Or are you talking about from back in Sep.?
I went long at the close on Nov. 6 and I've locked in a decent profit. Now I just have to see how far it runs.
I don't watch cramer, so I wouldn't know.
What happened is that they paid a $4 dividend over last night. Stock drops $4 a share, I've got $4 a share in my account. Great. But it seems to me that all relevant TA points need to be moved by $4 as well - the resistance of the last few days around 70 is now in effect at 66, and we closed the day well above it.
Or possibly he's talking about the peak in Sep. around 74ish which would now be at 70. If so, I don't think there's really much evidence that TA has any value on that time frame. But that may just be my bias.
well... i'm not currently trading WYNN to the upside. but, if i was, i would still be looking at the previous highs of 70 and 74ish. then what would i do if it hits 82ish? i'd probably hold on to it to see if it reaches past the analysts expectations of $100. do keep in mind casinos are reportedly not doing as well.