WYNN update August 22

WYNN: We wanted to provide another quick update on this ticker as it is a great example of where price violates a possible technical setup (triangle) and thus causes the tables to turn. This is where trading vs TA comes into play. Clearly the possible bullish triangle formation we showed last week was violated and price continues to fall. We can therefore not be bullish on this stock anymore until it breaks out above $104-105. That’s all there is to it.

wynn