OptionsPlay DailyPlay

The bearish DailyPlay we chose for Thursday January 21th is Wynn Resorts (WYNN). WYNN is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 9.45% move lower and it’s 1m and 6m trend turned bearish on 1/04 while breaking below its $77 support area on high volume.

Wynn Resorts’s 1m and 6m trends turned bearish on 1/07 and recently bounced lower off its $60 resistance level. With a technical score of 2 (out of 10), WYNN looks positioned to continue this strong bearish trend lower.

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