Wynn Resorts Ltd. (WYNN) develops and operates casino resorts through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. WYNN has been a great trading vehicle since it went public in 2002, but has not been a good long-term investment, notes John Eade, president of Argus Research.
The stock certainly is not for the faint of heart as it boasts massive volatility. The shares last peaked at an all-time high near $248 back in 2014.
(Editor’s Note: John will be speaking at the 2025 MoneyShow/TradersEXPO Orlando, scheduled for Oct. 16-18. Click HERE to register.)
Data by YCharts
After a roller coaster ride until April 2023, WYNN has calmed quite a bit -- but is still seeing pretty major swings. After bottoming at $66 four months ago, the stock traced out an inverse head-and-shoulders pattern and then saw a strong breakout on July 1.
The shares moved higher, peaking on July 10. WYNN then traced out a bull flag to its 10-week exponential moving average...before breaking out on Aug. 25 with big volume. We would put a stop-loss just below chart and moving-average support at $115. We would take profits at $135, with the possibility for more long-term upside.
