Wynn Resorts Stock Forecast
Wynn Resorts stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Wynn Resorts stock price fell by -0.745% on the last day (Friday, 26th Apr 2024) from $96.60 to $95.88. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.70% from a day low at $95.25 to a day high of $96.87. The price has fallen in 8 of the last 10 days and is down by -5.24% for this period. Volume has increased on the last day by 439 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $132.12 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $94.92 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Wynn Resorts stock with a 90% probability to be traded between $94.16 and $106.39 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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WYNN Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.94%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wynn Resorts stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $96.70 and $101.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Wynn Resorts stock
Wynn Resorts finds support from accumulated volume at $94.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.62 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WYNN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Wynn Resorts to open at $96.00, and during the day (based on 14 day Average True Range), to move between $93.52 and $98.24, which gives a possible trading interval of +/-$2.36 (+/-2.46%) up or down from last closing price. If Wynn Resorts takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $94.99 (0.93%) than the resistance at $99.09 (3.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wynn Resorts stock A Buy?
Wynn Resorts holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.072 Sell Candidate Downgraded
Predicted Opening Price for Wynn Resorts of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $96.00 ( 0.125%) | $95.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WYNN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.62 | 1.81 % | |
| R2 | 97.00 | 1.17 % | ||
| R1 | 96.62 | 0.771 % | ||
| Current price: | 95.88 | |||
| Support | S1 | 95.38 | -0.520 % | |
| S2 | 95.00 | -0.92 % | ||
| S3 | 94.38 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 106.11 | 10.67 % | |
| R2 | 103.23 | 7.67 % | ||
| R1 | 99.09 | 3.35 % | ||
| Current price | 95.88 | |||
| Support | S1 | 94.99 | -0.93% | |
| S2 | 94.43 | -1.51% | ||
| S3 | 0 | . |
WYNN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Feb 16, 2024 | Feb 29, 2024 | $0.250 | 0.238% |
| 2 | Nov 09, 2023 | Nov 17, 2023 | Nov 30, 2023 | $0.250 | 0.296% |
| 3 | Aug 09, 2023 | Aug 18, 2023 | Aug 31, 2023 | $0.250 | 0.247% |
| 4 | May 09, 2023 | May 22, 2023 | Jun 06, 2023 | $0.250 | 0.243% |
| 5 | Feb 06, 2020 | Feb 25, 2020 | Mar 06, 2020 | $1.00 | 1.06% |
FAQ
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