Wynn Resorts (WYNN) is one of my favorite names. It has been a solid performer in 2017, and it doesn’t appear to be losing steam. The chart shows a series of higher highs and higher lows, with volume levels surging on up days. Price action has been solidly bullish, and most indicators are showing strong buy signals.
The recent pullback from the highs has been modest, but money flow has stayed positive – an important sign. The MACD is not quite on a buy signal, but that may change with a couple of more up sessions. I am pretty confident that Wynn will take out the recent highs above 140 very soon and probably head toward the 200 area by year-end.
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