Wynn Resorts (WYNN)

This company is reacting to breaking news. Also it is on this week’s StockTwits50 list.

Watch the relative momentum chart closely. Green indicates outperformance relative to the S&P 500 Index. Recent price action has been above the uptrend line. I wonder how many traders are nervously watching, ready to sell a break.

Watch the stops and be sure to trade the appropriate position size.

For more information on how we evaluate stocks, check out Seven Steps to Better Stock Trading, Part 1 and the video in Part 2.