Here is a stock with warning signs written all over it.
$WYNN.O
Today is the Fed rate decision day, and I am posting it before the rate decision. This post is not a trade idea. I would not suggest buying/shorting stocks just before the Fed rate announcement. Instead, it is an example of how a high-priced stock with #CUE warnings written all looks.
Its industry is weakening and is down today.
Fundamentals are even more precarious. EPS is negative. Overvalued. Does not pay a dividend. The earnings date is nearby. Poor earning quality. Decreasing earnings and revenue growth. Funds are not interested in buying.
Technicals show an extended stock that is struggling to go up. Weekly has a cluster of Indecision at the top signals. The same is present in daily. Daily is also showing a cluster of bearish Headwind reversal signals. Those are coming above the Upper Boundary. It is at Jump/Thrust high - an extremely high level that may not be sustainable. It is also at Price Extreme High and is coming out of a #CUE Squeeze.
If you looked at its intraday charts today, the 30-min chart is showing a bearish Indecision followed by a false upside breakout. The 10-min chart showed a bearish Indecision that caught the very top of the day. It has since fallen below Early Range Low pivot.
If you are having a long position, you may consider what to do before the earnings - booking profit would not be a bad idea. You might look for a low-risk short entry if it continues to be bearish after the Fed rate decision.