Wynn Resorts's 15min chart triggers RSI Overbought, KDJ Death Cross.

Wynn Resorts's 15-minute chart has exhibited signs of overbought conditions, as evidenced by the RSI indicator crossing into the overbought zone. Additionally, the KDJ indicator has recently formed a death cross, a bearish signal that occurs when the KDJ line falls below the DJ line. These technical indicators suggest that the stock price has risen too quickly and has surpassed its fundamental support levels. Furthermore, momentum is shifting towards the downside, indicating a potential decrease in the stock price.

Wynn Resorts (WYNN) has seen a significant surge in its stock price this year, with a 49% increase that outpaces the S&P 500's 13% advance Stifel says there's 'considerable upside' still left in rallying shares of Wynn Resorts^[1]. The investment firm Stifel has raised its price target to $145, signaling a 17.6% upside from the current level, driven by robust growth in its international gaming operations. However, technical indicators suggest that the stock may be overvalued.

The 15-minute chart of Wynn Resorts has shown signs of overbought conditions, with the Relative Strength Index (RSI) crossing into the overbought zone. Additionally, the KDJ indicator has formed a death cross, a bearish signal indicating that the stock price has risen too quickly and may be due for a correction. These technical indicators suggest that momentum is shifting towards the downside, potentially leading to a decrease in the stock price.

Despite these technical signals, analysts remain bullish on Wynn Resorts. Stifel analyst Steven Wieczynski believes that the company's international resorts business, particularly in Macao and the United Arab Emirates, will continue to drive growth. The casino operator has benefited from Macao's gaming boom, with revenue growing by 12.2% year-on-year in August Stifel says there's 'considerable upside' still left in rallying shares of Wynn Resorts^[1]. The upcoming debut of its Al Marjan Island property in the UAE is also expected to contribute to future earnings.

While the fundamentals of Wynn Resorts appear strong, the technical indicators suggest that the stock may have reached its peak. Investors should monitor the stock's performance closely and consider the implications of the technical signals before making investment decisions.