Wynn's most recent trend suggests a bearish bias. One trading opportunity on Wynn is a Bear Call Spread using a strike $116.00 short call and a strike $121.00 long call offers a potential 37.74% return on risk over the next 14 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $116.00 by expiration. The full premium credit of $1.37 would be kept by the premium seller. The risk of $3.63 would be incurred if the stock rose above the $121.00 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Wynn is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Wynn is bearish.
The RSI indicator is at 31.59 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Wynn
Stock – Wall Street Surges on Powell's Promises
Tue, 04 Jun 2019 16:19:00 +0000
Investing.com – Stocks surged Tuesday in their biggest one-day rally since January after Federal Reserve Chairman Jerome Powell said the central bank stood ready to support the domestic economy if trade wars get too crazy.
Macau studies setting up securities market in push to diversify
Tue, 04 Jun 2019 05:50:51 +0000
Macau is considering launching a yuan-based stock market to help it diversify away from gaming, its main source of revenue, and align the territory more with China's growth plans for the Greater Bay Area in the country's southern region. Macau's Monetary Authority told Reuters in an email that it was starting feasibility studies for a securities market, including a stock market which would “leverage Macau's advantage to serve the country's need,” compared with established centres Hong Kong and Shenzhen. Beijing is pushing for the special administrative region of Macau to become an international tourism destination as well as a platform for trade and business between Portuguese speaking countries and China.
Macau casino revenue hits 5-month high in May
Sat, 01 Jun 2019 06:25:38 +0000
Gambling revenue in the Chinese territory of Macau hit a five-month high in May, although softer demand from high rollers amid a slowdown in the world's No.2 economy and a Sino-U.S. trade war continued to keep a lid on gains. Revenue was 25.95 billion patacas ($3.21 billion), the highest this year, Macau's Gaming Inspection and Coordination said on Saturday, versus 25.5 billion patacas a year ago and also up from April's monthly haul of 23.6 billion patacas. As the special administrative region marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth.
Macau casinos: upping stakes
Fri, 31 May 2019 12:27:09 +0000
Chinese high rollers are wandering to faraway cities. Fancy waterfalls and tropical pools in Macau’s VIP rooms are proving ineffective at attracting big spending whales. As a slowdown hits earnings at …
Casino operator Melco to buy 20% of Crown Resorts from billionaire Packer
Thu, 30 May 2019 15:00:52 +0000
HONG KONG/BENGALURU (Reuters) – Melco Resorts & Entertainment will buy a 20% stake in Australia's Crown Resorts from casino mogul James Packer for A$1.76 billion ($1.22 billion), the U.S. company said, months after Wynn Resorts withdrew an offer to buy Crown. The deal presents a great opportunity for Melco, Chief Executive Lawrence Ho told Reuters, as the operator of casinos across Asia, including in Macau and the Philippines, eyes further expansion. Crown's proposed deal with Wynn, the world's No. 2 casino operator, fell through in early April after details were leaked to the media, denying Packer a huge payout as he continues his withdrawal from business life because of mental health issues.
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