Mid-Day Update - Casinos Outperfoming: LVS, ASCA

Published on Thursday, 29 July 2010 11:52 Written by Christopher Lynn

New York, July 29th (TradersHuddle.com) - Casino stocks are trading higher by 0.66% versus their previous trading day close. Casino stocks are having a pretty much broad rally with 6 out of 7 casino companies trading higher.

Las Vegas Sands (NYSE:LVS) is the top performer of the casino stocks today trading at $27.12 representing 1.61%. versus the previous trading session. Las Vegas Sands, the owner and operator of casino resorts and convention centers in the U.S., Macau, and Singapore, shares have defined support at $22.62 and resistance at $26.05.

Ameristar Casinos (NASDAQ:ASCA) is also among the top performers, currently trading at $15.33 representing 1.59% from its previous close. Ameristar Casinos, the gaming company that owns and operates casinos resorts in several states in the U.S. has calculated support and resistance levels at $13.44 and $15.25 respectively.

Casino Stocks worst performers include Pinnacle Entertainment (NYSE:PNK) that is trading at $10.95 or -0.55% from the previous close. The Shares of Pinnacle Entertainment, the owner and operator of casinos and casinos resorts throughout the U.S. and Argentina have defined support at $9.17 and resistance at $10.27. Also among the worst performers is Isle of Capri Casinos (NASDAQ:ISLE), which so far is trading at $8.58 representing 0.12% from the previous trading session.

Casino stocks are outperforming the broad market S&P 500 Index is currently trading at 1101.99, -4.14 points or -0.37% from the previous trading session.