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Wynn Resorts(WYNN - Get Report) is a developer, owner and operator of destination casino resorts. This stock is trading up 1% at $114.52 in recent trading.
Today's Volume: 1.6 million
Average Volume: 1.8 million
Volume % Change: 97%
From a technical perspective, WYNN is bouncing modestly higher here right off some near-term support at $114 with decent volume. Shares of WYNN have basically been trending sideways for the last month, between $110 on the downside and $117.82 on the upside. This move today is pushing WYNN within range of breaking out above some near-term overhead resistance at $117.82.
Traders should now look for long-biased trades in WYNN as long as it's trending above its 200-day at $110.65, and then once it sustains a move or close above $117.82 with volume that hits near or above 1,819,620 shares. If that breakout triggers soon, then WYNN could setup for an explosive move higher back toward its next major resistance level at $136.88.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.