Don't Ignore This Chart!

Wynn Breaks Out with Good Volume and Relative Strength


I was looking through the list of large-cap stocks with the biggest gains in their StockCharts Technical Rank (SCTR) and found Wynn Resorts with a huge move (+24.8 to 78). Wynn is now in the top 23 percent of large-caps for relative strength based on the SCTR. Looking at the price chart, notice how the stock firmed near two key retracements and broke out with big volume. 

Click this image for a live chart

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus