Investment in Casino Stocks Series IV: Wynn Resorts

The final series of the Investment in Casino Stocks on Long & Short Investment is regarding Wynn Resorts.  In previous series, we applied technical analysis and presented concrete data on the potential direction of three stocks: Las Vegas Sands, MGM Mirage, and Vail Resorts.   Although these three casino stocks can soon present great buying opportunities, I would argue Wynn Resorts
presents the best opportunity and the best option from the list of four casino stocks we examined.
Looking at a 1 year chart for WYNN, it has been trading up and down and consolidating in the range of $52 to $70 for past 5 months.  Recently, it stopped its decline toward $52, reversed it course at $58 range, and made a new high above $71.  This is one of clues that buyers are very interested in WYNN and willing to pay premium prices.  The recent low of $58 is a critical level to keep an eye on.  Once this level gets broken, then WYNN most likely be headed towards $52.  Unless the stock market tanks, I do not see WYNN to reach $58 level anytime soon.  The best opportunity to add WYNN to your portfolio would be around $70 range.  WYNN is looking strong in 2010!

Investment in Casino Stocks Series:
Vail Resorts

MGM Mirage

Las Vegas Sands
Wynn Resorts

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