Wynn Resorts May Be on a Roll After Stock's Golden Cross: Chart
Water from a fountain sprays into the air in front of the Wynn Macau casino resort.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Wynn Resorts Ltd. has been lucky of late. At the start of April, the casino operator’s average share price for the past 50 days climbed above its 200-day moving average, forming a pattern known as a golden cross in reversal of the death cross established in August 2014. Steve Wynn’s namesake company was the leading mover in the S&P 500 Index Monday, climbing as much as 7 percent after Macau’s gaming authority reported a smaller year-over-year decline in gross gambling revenue than expected for the month of April.