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After Yesterday's Rally of 2.18% Shares Could Potentially Pullback

By Amy Schwartz

Wynn Resorts (NASDAQ:WYNN) traded in a range yesterday that spanned from a low of $206.13 to a high of $210.15. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $204.98 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.

Over the past year, Wynn Resorts has traded in a range of $121.84 to $249.31 and is now at $208.04, 71% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.4%.

SmarTrend is tracking the current trend status for Wynn Resorts and will alert subscribers who have WYNN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders wynn resorts

Ticker(s): WYNN