The last time I listed Wynn it worked for a day then failed and created a double top! Now it seems to have more time under its belt and the pattern has taken more time to complete. The casino-related names have been strong when the market makes a move. LVS has made some new highs recently.
Strategy
If you’re not in WYNN, buy tier one if it cleans this small flag around 91.50, then add to it if it can clear 94 with volume. This stock has potential to break out of this range and give a macro move to 115-125. If you get triggered, I would put your stop in at 87.50.
MGM has been out of play, but looks of if you want to throw a laggard in the drawer. It has a small pattern that if it clears 10.50-$10.60 we can see a move back to 11.30-$12.00.
