WYNN breaks back below 20-day moving average
Wynn Resorts Limited (WYNN) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, WYNN ended the week 4.12% higher at 132.14 after losing $1.48 (-1.11%) today on low volume, notably underperforming the Nasdaq 100 (0.29%) ahead of tomorrow's Presidents' Day market holiday. Closing below Thursday's low at 132.45, Wynn Resorts confirmed its breakout through the previous session low after trading up to $1.66 below it intraday.
Daily Candlestick Chart (WYNN as at Feb 14, 2020):
Friday's trading range has been $2.68 (2.01%), that's far below the last trading month's daily average range of $4.35. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for WYNN.
The share closed back below the 20-day moving average at 132.52. When this moving average was crossed below the last time on January 21st, WYNN lost -1.56% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.