WYNN: Don't Buy the 50 Day Line!

08/20/08 04:22PM EDT
WYNN has been breaking down since August 12th, and it doesn’t stop here. After breaking the $95.60 line, I have this stock in negative quantitative territory on both an immediate term "Trade" and intermediate term "Trend" basis.
  • The 50 day moving average is where the masses think it is going to find support. That price, as a reference point it $91.25. My model sees WYNN's next support at $84.22.
    KM
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