Wynn Resorts Ltd Stock Code WYNN.NAS
Outlook
Price touched a previous high but was unable to break above that previous high resistance. Instead price has dropped lower to the Conversion line support. Price is below the cloud and Base line is still trending lower, indicating the bearish trend may not be over as yet. MACD, when price was moving higher was weak and failed to reach a momentum peak experienced by a previous rally. If price is unable to move above the previous higher resistance at $125, it is likely to test the support at $101.50 again. A break of support at $101.50 will likely lead price lower to the next support level at $90.
Strategy
$122.20 Short Sell
$102.80 Price Target
$134.50 Risk Management Stop
3 weeks Trade Duration
Blackrock Inc Stock Code BLK.NYS
Outlook
Price broke above the cloud on Thursday and on Friday, price continued to move higher. Price closed above the cloud, confirming a bullish trend in place and both Conversion and Base lines had a bullish crossover. Base line is also turning higher. Volume on the two breakout days were both higher. In fact, volume on the second day of the breakout was higher than normal. MACD is bullish and is moving higher, confirming the bullish price movement. If price stays above the cloud, price should be moving towards the previous high at $487.
Strategy
$466.50 Buy
$486.80 Price Target
$449.00 Risk Management Stop
3 weeks Trade Duration
