Trading Idea - Wyndham Worldwide Breaking Out?

Published on Thursday, 09 February 2012 05:52 Written by TradersHuddle Wire

New York, February 9th (TradersHuddle.com) - Shares of Wyndham Worldwide Corporation (NYSE:WYN) closed the trading session at $43.42 just above calculated resistance at $41.61 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 $41.61, given that this range was broken traders will be closely monitoring the stock