Wynn Resorts (WYNN) dropped for a second day, down another 7% on Monday morning.
Founder and CEO Steve Wynn resigned as Chair of the Republican National Committee today, after Friday’s allegations of sexual misconduct.
WYNN was a high-flyer, but in a remarkable turn of events, the stock is now close to breaking down from where it started its current market cycle.
If it drops below $160, this could lead to additional downside risk for the remainder of the cycle.
The market cycles on the charts below are designated by the purple semicircles at the bottom of the chart.
WYNN Stock Chart (Weekly Bars)
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