Since the market seems to be in a 'confirmed' uptrend (HH & HL + increase in breadth), it's time to be bullish again!
Top idea for next week: Wynn Resorts (NASDAQ:WYNN)
Buy with break of the High of the day c. 110.4
Reasons: - Double inside day in the upper wick of a positive High Volume candle (analyst upgrade and positive news) + confluence of 10,21 and 50 day (launchpad) - Tight consolidation with shakeout since the beginning of february - Bullish momentum since november - Positive Earning momentum + good fundamentals (EPS q/q & sales >30%)
Stop-loss: - Low of the second inside day 108.98 - If breakout happens, stop loss could be 10day MA or AVWAP of HV day
PT: - First area of resistance ca. 117 (partial) - Fibs: 125 - Or following the 10/21 MA
Follow price and volume + fundamentals! No investment advice