Above Resistance - Wyndham Worldwide

Published on Wednesday, 25 January 2012 05:36 Written by TradersHuddle Staff

New York, January 25th (TradersHuddle.com) - Shares of Wyndham Worldwide Corporation (NYSE:WYN) closed the trading session at $40.37 just above calculated resistance at $39.99 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

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 stock was trading in a well defined range with support at $36.26 and resistance at $39.99, given that this range was broken traders will be closely monitoring the stock