High Above Average Volume on Wynn Resorts

Published on Monday, 02 July 2012 11:38 Written by TradersHuddle Wire

New York, July 2nd (TradersHuddle.com) - Unusual high volume detected on shares of Wynn Resorts Limited (NASDAQ:WYNN) early in the trading session. The pace in volume of Wynn Resorts points to a break above average, with buyers stepping in, as the stock is 1.68% higher.

Wynn Resorts Limited (NASDAQ:WYNN) 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.

Wynn Resorts has already traded 0.919 times its 3-month average volume and has calculated support and resistance at $100.40 and $107.57 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.34% from its previous trading close, which means that Wynn Resorts stock is outperforming the overall market.