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Wynn Resorts Rises 3.01% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Wynn Resorts (NASDAQ:WYNN) traded in a range yesterday that spanned from a low of $103.26 to a high of $107.08. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $104.79 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Wynn Resorts share prices have been bracketed by a low of $49.95 and a high of $136.93 and are now at $106.62, 113% above that low price. The 200-day and 50-day moving averages have moved 0.24% lower and 1.19% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Wynn Resorts. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wynn Resorts in search of a potential trend change.

Keywords: rebounders wynn resorts

Ticker(s): WYNN