Monday, February 15, 2016
A WYNNing Trade? from the desk of Mark Leibovit.
WYNN is a $250 stock that declined to $50 and is now forming an important basing pattern encouraged in part by insider buying from its founder Steve Wynn. The month chart presented herein demonstrates the terrific correlation between the Leibovit Volume Reversal and the collaborative 5/3/3 stochastic. The daily chart demonstrates the same correlation in the past few weeks and most recent a Leibovit Positive Volume Reversal confirms the short to near-term uptrend. Potential in WYNN (on a trade) is in the mid to high 70s) and on intermediate basis to 100 in my view.