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WYNN Opens Down, Cycles Point Lower

|About: Wynn Resorts, Limited (WYNN)

Wynn Resorts (WYNN) opened over 2% lower on Monday morning, as the negative news flow continued.

The New York State Retirement Fund filed a lawsuit that alleges the well-compensated Board of Directors of Wynn Resorts was aware of CEO Steve Wynn’s track record of sexual misconduct. Also, new allegations by two massage therapists who claimed that Steve Wynn coerced them sexually.

Our analysis of WYNN market cycles shows a breakdown of the lows, in both the weekly and daily charts, which it started its current market cycle. The weekly cycle lasts into May and our price target is below $150. The market cycles are designated by the purple semicircles at the bottom of the chart.

WYNN Stock Charts with Daily and Weekly Bars

For an introduction to cycle analysis, check out a clip of our Big Picture Analysis, or visit askSlim.com and become a free Level 1 member for the full version. To receive notifications for our askSlim Market Week on Fridays, subscribe to our YouTube channel. The latest episode is below.