Wynn Resorts (WYNN) Upgrade Alert, Watch for 12.7% Technical Downtrend Reversal

Wynn Resorts (NASDAQ:WYNN) upgraded to Outperform from Perform, $73 target, at Oppenheimer. The stock closed yesterday at $56.13 on volume of 14,308,100 shares, above average daily volume of 4,590,324.

Wynn Resorts is currently below its 50-day moving average of $63.44 and should find support at its 200-day moving average of $41.65.

SmarTrend is bearish on shares of WYNN and our subscribers received a Downtrend alert on October 15, 2009 at $64.26, which has returned 12.7% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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