Are you a loser, or a winner? Bet on Wynn (WYNN). (June 07, 2016)

by DAN WYNN 
I want to look at Wynn ( NASDAQ:WYNN ) here. This is a stock that I have featured a couple times recently in our Free Chart of the Day video, which is what this is. The reason is because we’re looking at this as a potential breakout. You can see what happened, nice move above the 200, a pullback to the 50, sideways consolidation and now a move up to here. Kind of a very short-term cup and handle pattern. This is the cup, we’re looking for a little sideways consolidation, and then finally a move to the upside. So that pattern has been perpetuating itself. On this day the high was 102.44, that was the high, so this is close to breaking out here.

I think this is a buy right here, right now. It would be nice to get it back a little bit closer to 90.00. If it pulls back that’s when, frankly, you want to add to a position. I read a part of an article that basically said Wynn’s ( NASDAQ:WYNN ) other holdings are doing better than the casinos. And so that’s good for this stock, because then you don’t have to rely on people going to Vegas, and parts unknown, and using up all their money at the blackjack tables because they get free drinks and a cute cocktail waitress. Instead you just look at this as a thriving business. So I think this is a stock that works; go ahead and buy it.

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