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Shares of Wynn Resorts Rise Above Previous 52-Week High

By Shiri Gupta

Wynn Resorts (NASDAQ:WYNN) traded at a new 52-week high today of $249.31. This new high was reached on below average trading volume as 379,000 shares traded hands, while the average 30-day volume is approximately 2 million shares.

Wynn Resorts Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada and in Macau, China. The resorts features guest rooms and suits, restaurants, golf courses, and on-site luxury automotive dealerships.

Over the past year, Wynn Resorts has traded in a range of $114.41 to $249.31 and is now at $247.85, 117% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 1.7%.

Based on a current price of $247.85, Wynn Resorts is currently 6.3% above its average consensus analyst price target of $232.35. The stock should find initial support at its 50-day moving average (MA) of $211.07 and further support at its 200-day MA of $164.94.

SmarTrend recommended that subscribers consider buying shares of Wynn Resorts on January 31st, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $212.11. Since that recommendation, shares of Wynn Resorts have risen 16.9%. We continue to monitor WYNN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows wynn resorts

Ticker(s): WYNN