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Downgrade Alert for Wynn Resorts (WYNN)

By James Quinn

Wynn Resorts (NASDAQ:WYNN) was downgraded from Overweight to Neutral at JP Morgan today. The stock closed yesterday at $92.02 on volume of 3.5 million shares, below average daily volume of 3.9 million.

Wynn Resorts (NASDAQ:WYNN) is currently priced 9.7% above its average consensus analyst price target of $83.06. The stock should find initial support at its 50-day moving average (MA) of $91.00 and further support at its 200-day MA of $76.19.

Over the past year, Wynn Resorts has traded in a range of $49.95 to $136.93 and closed yesterday at $92.02, 84% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.2%.

Wynn Resorts Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada and in Macau, China. The resorts features guest rooms and suits, restaurants, golf courses, and on-site luxury automotive dealerships.

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: analyst upgrades/downgrades wynn resorts

Ticker(s): WYNN