Wynn Macau (OTCMKTS:WYNMY) Share Price Breaks Below 50 Day Moving Average – Here’s What Happened

Wynn Macau, Limited – Unsponsored ADR (OTCMKTS:WYNMY) passed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $6.88 and traded as low as $6.3150. Wynn Macau shares last traded at $6.37, with a volume of 465 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. CLSA lowered shares of Wynn Macau from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, July 10th. The Goldman Sachs Group raised shares of Wynn Macau from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Wynn Macau Price Performance

The company has a fifty day moving average price of $6.86 and a 200-day moving average price of $6.97.

Wynn Macau Company Profile

Wynn Macau Limited is a developer and operator of integrated resort properties in Macau. The company is associated with Wynn Resorts and serves the Macau market through luxury resorts that combine casino gaming with hotels, restaurants, retail outlets, entertainment venues, spas and convention facilities.

Its principal properties include Wynn Macau on the Macau Peninsula and Wynn Palace in the Cotai area. The Wynn Macau resort also includes the Encore at Wynn Macau hotel tower. These properties offer a range of gaming options, premium accommodations, fine dining and leisure experiences aimed at both international visitors and regional travelers.

Wynn Macau Limited was established as part of Wynn Resorts’ expansion into Macau after receiving a gaming concession in 2002.