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Wynn Resorts Ltd Falls 2.19% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Wynn Resorts Ltd (NASDAQ:WYNN) traded in a range yesterday that spanned from a low of $147.66 to a high of $150.98. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $151.51 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Wynn Resorts Ltd on June 5th, 2018 by issuing a Downtrend alert when the shares were trading at $179.68. Since that call, shares of Wynn Resorts Ltd have fallen 15.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Wynn Resorts Ltd has traded in a range of $82.51 to $203.63 and is now at $147.86, 79% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.9% while the 200-day MA has remained constant.

Keywords: rebounders wynn resorts ltd

Ticker(s): WYNN