Bob Knights Liver said:
WYNN has had huge green volume right at close the last two days with little change in price. Is that a signal?
It went from 108 to under 70 in a three week span but since has stabilized. Is that an odd shaped head and shoulders bottom over the last 5 days? The left shoulder has high volume on downward price movement, but after that the volume seems to come when prices turn up. It would be a near horizontal, maybe slightly slanted up neckline from 73.65 to 74.11.
Is this a good reversal signal? If so would $85 C for three to five weeks out seem like a reasonable play?
I'm new to the reversals game, so let me know your thoughts.
Im going to start playing more of these instead of waiting for confirmation. F me in the goat ass! Those $85 calls are no longer cheap.