Wyndham Worldwide Is Near Resistance

Published on Monday, 25 June 2012 06:28 Written by TradersHuddle Wire

New York, June 25th (TradersHuddle.com) - Shares of Wyndham Worldwide Corporation (NYSE:WYN) are trading very close to calculated resistance at $52.99. The stock ended the trading session at just $51.26, which is near levels that make it difficult to buy or start a position.

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 range is defined by its calculated support defined at $46.57 and by the resistance level at $52.99; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Wyndham Worldwide. However, as the stock pulls back towards $46.57 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $52.99 then traders will get an opportunity to enter the stock as it moves to a higher range.