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SmarTrend Watching for Potential Pullback in Shares of Wynn Resorts After 1.08% Gain
Jan 03, 2013 (SmarTrend(R) News Watch via COMTEX) --
Wynn Resorts (NASDAQ:WYNN) traded in a range yesterday that spanned from a low of $118.34 to a high of $121.06. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $119.02 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Wynn Resorts on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $111.93. Since that recommendation, shares of Wynn Resorts have risen 5.5%. We continue to monitor WYNN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Wynn Resorts have traded between a low of $90.11 and a high of $172.58 and are now at $119.34, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.2%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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