Today, shares of Wynn Resorts (NASDAQ:WYNN) have fallen below their 10-day MA of $123.58 on a volume of 2.0 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Wynn Resorts share prices have been bracketed by a low of $90.11 and a high of $172.58 and are now at $123.00, 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has remained constant.
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.
There is potential upside of 8.1% for shares of Wynn Resorts based on a current price of $123.00 and an average consensus analyst price target of $132.92. The stock should discover initial support at its 50-day moving average (MA) of $115.97 and subsequent support at its 200-day MA of $110.21.