Sector Wrap Up - Casinos Higher: WYNN, MGM

Published on Wednesday, 18 January 2012 17:06 Written by Gerard Lerod

New York, January 18th (TradersHuddle.com) - Casino stocks ended the session higher by closing 2.36% versus their previous day close. Casino stocks had a broad rally with 7 out of 7 casino companies trading higher.

Wynn Resorts (NASDAQ:WYNN) was the top performer of the casino stocks today closing at $116.81 representing 4.39%. versus the previous trading session. The shares of Wynn Resorts, the luxury casino operator have defined support at $104.62 and resistance at $112.16.

MGM Resorts (NYSE:MGM) was also among the top performers, closed the trading session at $12.73 representing 3.92% from its previous close. MGM Resorts, the hospitality and gaming Company owner of properties like the Bellagio and MGM Grand in Las Vegas, NV has calculated support and resistance levels at $8.95 and $11.27 respectively.

Casino Stocks worst performers include Las Vegas Sands (NYSE:LVS) that closed the trading session at $46.83 or 1.01% from the previous close. 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 $41.77 and resistance at $44.66. Also among the worst performers was Isle of Capri Casinos (NASDAQ:ISLE), which closed the trading session at $4.46 representing 1.13% from the previous trading session.

Casino stocks outperformed the broad market S&P 500 Index that closed the trading session at 1308.04, 14.37 points or 1.11% from the previous trading session.