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Bearish Moving Average Cross by Wynn Resorts (WYNN)

By Amy Schwartz

Today, shares of Wynn Resorts (NASDAQ:WYNN) have crossed bearishly below their 10-day moving average of $122.86 on a volume of 1.0 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Wynn Resorts have traded between a low of $49.95 and a high of $136.93 and are now at $120.70, which is 142% 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 advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Wynn Resorts on March 1st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $101.67. Since that recommendation, shares of Wynn Resorts have risen 22.3%. We continue to monitor WYNN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses wynn resorts

Ticker(s): WYNN