Wynn’s most recent trend suggests a bearish bias. One trading opportunity on Wynn is a Bear Call Spread using a strike $72.50 short call and a strike $77.50 long call offers a potential 42.86% 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 $72.50 by expiration. The full premium credit of $1.50 would be kept by the premium seller. The risk of $3.50 would be incurred if the stock rose above the $77.50 long call strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Wynn is bullish and the probability of a rise 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 26.64 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
Hedge Funds Are Coming Back To Wynn Resorts, Limited (WYNN)
Tue, 08 Sep 2020 13:54:07 +0000
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
Goldman Downgrades Wynn Resorts On Challenges At Its Macau Unit
Mon, 07 Sep 2020 08:41:58 +0000
Goldman Sachs downgraded Wynn Resorts to Hold from Buy on September 6 and lowered the price target to $95 (8.3% upside potential) from $96. Goldman also removed the stock from its Conviction List, citing slower recovery at the company’s Macau unit.Goldman analyst Stephen Grambling has lowered his 2021 forecasts for the Macau unit as he expects softer VIP gaming revenues in 2021. The recent run-up in Wynn Resorts shares in August also led to the downgrade.Wynn Resorts Limited’s (WYNN) dependency on Macau’s gaming market is seen as a challenge. Last month, the casino operator reported 2Q results, wherein the gross gambling revenue across Macau was down nearly 95% year-over-year in July, which was the fourth straight month with revenue declining over 90%.Wynn Resorts reported a loss of $6.14 per share, missing the Street estimates of $4.98. Its revenues of $85.7 million were also far below the consensus estimate of $275.8 million. The disappointing numbers were the result of casino closures amid the pandemic and depressed business and leisure travel. (See WYNN stock analysis on TipRanks).Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 9 Buys and 4 Holds. The average price target of $92.67 implies upside potential of 5.6% to current levels. Shares are down by 36.8% year-to-date.Related News: Uber, CarTrawler Team Up For New UK Car Rental Service Verizon Boosts Shareholders’ Return With Dividend Hike Cooper Companies Gains Over 5% On Strong 3Q Results More recent articles from Smarter Analyst: * Chegg vs K12: Which Online Education Stock Is A Smarter Pick? * Chewy Earnings Preview: RBC Bullish On Accelerating Revenue Growth * Smith & Wesson Tops 1Q On Record Firearm Sales * Barrington Turns Bullish On National CineMedia, Stock Surges 28%
Why Casino Operators Caesars, MGM, and Wynn Rocketed Higher in August by as Much as 47%
Thu, 03 Sep 2020 19:56:00 +0000
What happened Shares of casino operator Wynn Resorts (NASDAQ: WYNN) jumped a hefty 20% in the month of August according to data from S&P Global Market Intelligence. However, that was chump change compared to MGM Resorts International (NYSE: MGM), which saw its share price rise just under 40%.
Wynn (WYNN) Up 25.3% Since Last Earnings Report: Can It Continue?
Thu, 03 Sep 2020 15:31:03 +0000
Wynn (WYNN) reported earnings 30 days ago. What’s next for the stock? We take a look at earnings estimates for some clues.
Disney, Casino Stocks Rise As NBA Playoffs Set To Resume
Thu, 27 Aug 2020 20:05:56 +0000
NBA playoffs will reportedly resume following a player boycott to protest the latest police shooting of an unarmed African American man.
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