No mood to gamble
With the worry of interest rate hike, businessmen are in no mood to entertain themselves in the gaming and hospitality industry - which is evidenced by the freefalling price of Wynn Resorts.
The Institutional House laughed the loudest as they initiated their short position almost at the top of the uptrend channel, and scale up more once moving averages are turning southeast. And momentum trader are the final group of large fund that deliver this "knockout blow" within short term.
3 support levels to take note:
a. around 171.99, failure to hold
b. lower support of uptrend channel around 160, failure to hold
c. 200 ema will be the last line of defence
The Institutional House laughed the loudest as they initiated their short position almost at the top of the uptrend channel, and scale up more once moving averages are turning southeast. And momentum trader are the final group of large fund that deliver this "knockout blow" within short term.
3 support levels to take note:
a. around 171.99, failure to hold
b. lower support of uptrend channel around 160, failure to hold
c. 200 ema will be the last line of defence
Note
G13ManNote
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.