Ameristar Casinos - Top Performing Casino Stock

Published on Wednesday, 01 February 2012 17:06 Written by Christopher Lynn

New York, February 1st (TradersHuddle.com) - Casino stocks ended the session higher by closing 2.58% versus their previous day close. Casino stocks had a broad rally with 7 out of 7 casino companies trading higher.

Ameristar Casinos (NASDAQ:ASCA) was the top performer of the casino stocks today closing at $20.94 representing 7.06%. versus the previous trading session. The shares of Ameristar Casinos, the gaming company that owns and operates casinos resorts in several states in the U.S. have defined support at $19.28 and resistance at $20.63.

MGM Resorts (NYSE:MGM) was also among the top performers, closed the trading session at $13.58 representing 4.06% 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 $12.71 and $13.49 respectively.

Casino Stocks worst performers include Penn National Gaming (NASDAQ:PENN) that closed the trading session at $41.5 or 1.37% from the previous close. Penn National Gaming, the owner and operator of casinos in Mississippi, and a riverboat gaming facility in Louisiana shares have defined support at $39.01 and resistance at $41.91. Also among the worst performers was Pinnacle Entertainment (NYSE:PNK), which closed the trading session at $9.84 representing 1.44% from the previous trading session.

Casino stocks outperformed the broad market S&P 500 Index that closed the trading session at 1324.08, 11.67 points or 0.89% from the previous trading session.