Today's Master the Trade setup is to short Wynn Resorts, symbol WYNN. The casinos showed weakness in yesterday's down move and we are only looking for good short setups in this sector. On a 60-min time frame, this stock has been in a range between 67.80 - 75.00. It would be prudent to short this stock everytime it gets to $75.00 and cover around the bottom of the range at $68.00. If it breaks the 67.80 area we are looking to short this stock for a $8.00 down move. On a weekly chart you can see that this stock can easily get back to the $60.00 if it breaks the current range.
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