Is Wyndham Worldwide Trade Over?

Published on Wednesday, 01 February 2012 04:21 Written by Christopher Lynn

New York, February 1st (TradersHuddle.com) - Shares of Wyndham Worldwide Corporation (NYSE:WYN) ended the trading session lower by $0.21 or -0.53% from its previous close. Wyndham's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

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's current stock range is defined by calculated support defined at $36.26 and by the resistance level at $39.99, which should be used by traders planning their trades.

Traders wanting to establish a position in Wyndham Worldwide stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Wyndham Worldwide shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: