Wynn Selling May Be a Bit XS

As I mentioned earlier, WYNN may finally be ripe for a tradable bounce. The stock is up nicely today, and the issue is whether there is juice left in the tank. 

On the monthly chart, below, we can see about a 50% decline off the early-2014 highs, taking price back below its primary long-term breakout (horizontal light blue line). 

A check-back up to that $160 level sure seems reasonable at this point, though if there truly is a huge monster lurking under the bed, in terms of a major bearish development affecting Macau/Vegas, then the power of the downtrend may prevent even a retrace up to the scene of the breakdown crime.

Also note the stock is hitting its lower monthly Bollinger Band.

Long story short: WYNN should stage a tradable rally from here, but a failure to do so would be quite telling and have major bear implications.