Wynn Resorts is one of my favorite names. It has been a solid performer in 2017, and it doesn’t appear to be losing steam. The chart shows a series of higher highs and higher lows, with volume levels surging on up days. Price action has been solidly bullish, and most indicators are showing strong buy signals.
The recent pullback off the highs has been modest, but money flow has stayed positive – an important sign. The MACD is not quite on a buy signal, but that may change with a couple of more up sessions. I am pretty confident that Wynn will take out the recent highs above 140 very soon and probably head toward the 200 area by year end.
Wynn Resorts (Nasdaq: WYNN) Video Chart Analysis
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About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2017, the companys Wynn Macau resorts had approximately 284,000 square feet of casino space, which offered 303 table games and 957 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 57,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and the Rotunda show. It also owned and operated Wynn Palace resort with a total of approximately 420,000 square feet of casino space that offers 304 table games and 996 slot machines, private gaming salons, sky casinos, and a poker pit; a luxury hotel with a total of 1,706 guest rooms, suites, and villas; 10 food and beverage outlets; 105,000 square feet of retail space; 40,000 square feet of meeting and convention space; recreation and leisure facilities, including a gondola ride, health club, spa, salon, and pool; and public attractions, such as a performance lake and floral art displays. The companys Las Vegas resorts offer approximately 189,000 square feet of casino space, which provide 234 table games and 1,907 slot machines, private gaming salons, a sky casino, a poker room, and a race and sports book; 2 luxury hotel towers with a total of 4,748 guest rooms, suites, and villas; 33 food and beverage outlets; 99,000 square feet of retail space; 290,000 square feet of meeting and convention space; 3 nightclubs and a beach club; recreation and leisure facilities, including an 18-hole golf course, swimming pools, private cabanas, 2 full service spas and salons, and a wedding chapel; and Le Rêve-The Dream, a water-based theatrical production and a theater presenting entertainment productions and various headliner entertainment acts. The company was founded in 2002 and is based in Las Vegas, Nevada.