A Trio of Triangles

Wyndham Worldwide (WYN) was trading below $5 per share in early 2009, and it traded above $75 this year. The run off the generational low has been spectacular, and, of course, there have been healthy periods of consolidation along the way. This may be the case now with the stock.

WYN Source: StockCharts.com View Chart » View in New Window »

Since briefly making a new all-time high in March, shares have pulled back and been consolidating in a symmetrical triangle formation, with the 50-day moving average tracking near the mid-line. Now the stock is back above the 50-day average and the pattern downtrend line is being retested. Moving average convergence/divergence is slightly bullish to flat and the Relative Strength Index is holding above its centerline. Chaikin money flow is still solidly positive, and the Money Flow Index, a volume-weighted relative-strength measure, is trending higher and above its centerline. The stock looks ready to return to trend and is a buy after a close in upper candle range above triangle resistance, using a trailing percentage stop....182 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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