TEXT BOOK VWAP REVERSAL IN WYNN
WYNN sold off hard on some bad news with the CEO. The selling continued into day 2. One day 3 we see a slight gap down and price immediately comes up and rejects the 1 day. You see another test of the one day and it holds firms. For the mid day price consolidates and wedges in between intraday vwap and the 1 day. This ells us buyers are stepping in and once the sellers at that 1 day vwap are all done, we can expect a nice burst through. The next potential spot of resistance will be at the next VWAP level. the 2 day in this case which we found right before the close.