PPR - Watch Wynn Resorts, Ltd. (WYNN) for Possible Pocket Pivot as 10-dma Catches Up

Published : October 18 2010 at 15:31 ET

We like this very tight little five-day flag pattern that Wynn Resorts, Ltd. (WYNN) is building here. We would like to see the stock pause here a little longer, allowing the 10-day moving average, the pink line in the chart, to "catch up" to the price in order to set up a proper launch pad for a potential pocket pivot and/or breakout from this little flag. Keep a close eye on this one over the coming days. We will update when we see something actionable here, but hopefully by alerting you to this in anticipation of a possible set-up here you can act faster once it actually does occur.

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