Wednesday, 10 January 2018

WYNN - mid term strong

Wynn Resorts (WYNN) settled -0.9% at $162.00. The stock has seen some choppy cooling since the Dec'28th high of $171.06. The mid term trend remains powerfully bullish, with soft target of the $175s.

WYNN, monthly

WYNN, daily


I only follow the stock on a bigger perspective, as seen via the monthly chart.

Short term, WYNN is just seeing a little weak chop, after breaking a new multi-year high in late December.

Mid term, the stock is super strong, having climbed from $48.04 in Jan'2016. There is clear resistance around the $175s. Any monthly close >175 will offer soft psy' $200, and then the March 2014 historic high of $227.48. The latter is clearly a long way higher, and will likely take at least until Q4 to reach.

Valuation: FPE 24s. Y 1.2%, NM 6.2%, and those numbers are very similar to both LVS and MGM.

Of the three, I actually favour LVS, with WYNN second, and MGM in third. Its notable that MGM is seriously lagging the other two.

Bonus chart: LVS, monthly

Price action since early 2016 in LVS, is rather similar to WYNN. I've a grander target for LVS of $100 by mid 2019.