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After Yesterday's Rally of 1.51% Shares Could Potentially Pullback

By Shiri Gupta

Wynn Resorts (NASDAQ:WYNN) traded in a range yesterday that spanned from a low of $100.87 to a high of $104.10. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $102.75 on volume of 1.2 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 February 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.79. Since that recommendation, shares of Wynn Resorts have risen 54.3%. 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 $49.95 and a high of $136.93 and are now at $103.06, which is 106% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.2%.

Keywords: rebounders wynn resorts

Ticker(s): WYNN