Hubert Senters here.
Let’s take a look at Wynn, WYNN. I was having a conversation with one of my buddies in Las Vegas. And he owns a bunch of convention businesses and stuff and he used to tell me in this kind goes town in Vegas and stuff.
And then I’m going to get the numbers wrong because I didn’t take notes of what he was saying.
Some of the hotels were losing like $10 million a day or something like that. And now, it’s expanding. Now, they’re only losing $3 million a day.
And at that burn rate they could survive for about six to eight months. And that’s crazy. So that’s the fundamentals underneath that stuff and I don’t know if those numbers are true or not. That was me and him just shooting the sh*t and just talking about general, overall what’s going on days.
Let’s take a look at WYNN. It is stuck in the cloud. Now based upon that information you could say if it goes lower it may re-visit this $40 area down here at $46.45. And also $40.42. But if it closes back above the cloud it could rally to $88.24 and $110.
For me, I would not play the long side. I would more focused on the down side just because of the covid situation. But if it did close above the cloud I would not short it. I wouldn’t jump in a river that’s going down stream and say ”hey, I’m going to swim up stream, I’ll eventually get there” because I know that’s not going to work.
Anyway, I just thought you’d like that story. It is in the cloud. It’s acting like it wants to go above the cloud. But if it does drop right here in these two areas that will probably go. I’ve been asked to speak at the Wealth365 event. I’m going to be talking about Ichimoku cloud how to scan for and find better trades. I will HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
