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Wynn Resorts Rises 2.12% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Wynn Resorts (NASDAQ:WYNN) traded in a range yesterday that spanned from a low of $136.11 to a high of $137.66. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $136.98 on volume of 723,000 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 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 32.3%. 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, Wynn Resorts share prices have been bracketed by a low of $49.95 and a high of $137.66 and are now at $136.99, 174% 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