Trading Idea - Wyndham Worldwide Broke Resistance, What to Expect?

Published on Thursday, 02 February 2012 08:44 Written by Danny Miller

New York, February 2nd (TradersHuddle.com) - Shares of Wyndham Worldwide Corporation (NYSE:WYN) closed the trading session at $40.56 just above calculated resistance at $39.99 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

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