More Upside for Wyndham Worldwide ?

Published on Tuesday, 24 January 2012 12:34 Written by Christopher Lynn

New York, January 24th (TradersHuddle.com) - Shares of Wyndham Worldwide Corporation (NYSE:WYN) booked a new 52 week high today by trading above $40.08, traders are definitely monitoring Wyndham's price action to see if this move attracts further buying into the stock.

Wyndham Worldwide Corporation (NYSE:WYN) franchises hotels in the upscale, midscale, and economy segments of the lodging industry and provides hotel management services to owners of luxury, upscale and midscale hotels; Wyndham offers its products and services under the Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Wingate, Microtel, and RCI brands.

Wyndham Worldwide is currently trading 0.5% versus its previous trading session close, and it has calculated support and resistance at $36.26 and $39.99 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -0.28% from its previous trading close, which means that Wyndham Worldwide stock is outperforming the overall market.