WYNN Trade on Jul 1, 2019 09:36 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

WYNN
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There was an agreed hold on the raising of tariffs at the g-20 meeting. The premarket action as the European markets open is showing very positive and trading above their recent highs. This should make for an overall strong open to the market. I am concerned that this is already baked in and that may bring a near term pull back again. However, last week was never strong or weak and the market is coming off a record setting month. As a whole though, there are multiple support levels in the range that we are trading in. This market should let us know if it is going to pullback if a couple of these levels break strongly.
There is an OPEC meeting going on today. I am not sure what the expectations are here. I seem to remember the OPEC nations are talking about cutting production. There is case study here. But, for today be conscious if anything on the stocks in play involve any energy stocks.
Intraday Fundamentals
Casino stocks climbed in the premarket after the Macau gaming authority reported gambling revenues rose more than expected in June. Gross gaming revenue in Macau rose 5.9% last month, well above a StreetAccount estimate of 2.5% growth. Wynn and Las Vegas Sands rallied more than 4% each before the bell.
Macro fundamental change
Technicals

The trend on this stock is down over the. But, it has been positive since the December ’18 lows and broke a steeper uptrend that it has now back in the May’19 sell off.

Most of the support was found off the overnight action with the exception of the top around 135.

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Execution detail:

Date/time Symbol Side Price Position
2019-07-01 09:36:10 WYNN buy $131.953 long
2019-07-01 09:36:19 WYNN sell $131.920 0
2019-07-01 09:47:13 WYNN buy $131.380 long
2019-07-01 09:53:05 WYNN sell $132.345 0


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