I monitor WYNN stock for few weeks already. I noticed on weekly chart that WYNN formed huge Head and Shoulders stock chart pattern. Right shoulder is also presented on daily chart by big pennant stock chart pattern.

During last few days WYNN is trying to break from this pattern. Situation is telling me that new drop to 80 area is very possible. I opened small short position already and will add in case of confirmed breakdown .

This entry was posted on Thursday, June 5th, 2008 at 7:43 pm and is filed under Stock chart analysis, Stock pick. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.