The next stock we will look at is Wynn. Wynn announced its earnings this week and they weren't great. When you look at Wynn's graph , you can see that he performed very poorly.
This stock has fallen very sharply . But now, when you look at the weekly chart, see what happened. You can see that the shape here has changed. You can see that even after bad earnings, the stock tends to rise.
Then you can see right here that there is an upward shift in weekly momentum. All of this points to a bottom formation process here on the weekly chart. When you look at Wynn's daily chart, look for the cyclical patterns here.
There's a nice rhythm here. This is a very negative translation from the left side, then it breaks below that and drops almost perfectly with this cyclical rhythm and then heads upwards.
Here you can see that what happened is that the options trend indicator, which was negative, has now turned yellow, which is neutral. The reversal detection indicator has turned upward and the Slim Ribbon PO indicator has become neutral after all these negative signals and conditions that I have seen here .
It seems to me that Wynn's stock has formed a bottom. Now, why would you want to buy here when the price is at a resistance level and has already risen from 71 to 84? I don't want that.
What I want to do is wait for some opportunities where the price drops. You can see the explosion gap here, where there was a downward trend, then an upward gap occurred, followed by another gap upwards.
This plan looks very good. I'm going to show you China before I show you Baidu to give you an idea. This is China and you can see that great upward shift. It was a little early, but it's really strong.
That depends on the changes in Chinese policy that we are seeing, and look at this upward gap here . She believes that "Wynn" largely follows this pattern . So, it follows China because of the betting situation it often does,