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Trade Alert - Ameristar Casinos High Volume

Published on Thursday, 02 February 2012 11:38 Written by Christian Paolinetti

asca New York, February 2nd (TradersHuddle.com) - Unusual high volume detected on shares of Ameristar Casinos, Inc. (NASDAQ:ASCA), early in the trading session. Ameristar Casinos is currently trading higher by 7.06%, so definitely the buyers stepping in, as the stock's volume is already above average.

Ameristar Casinos, Inc. (NASDAQ:ASCA) is a gaming company that owns and operates casinos and related hotel, entertainment, and food and beverage facilities. Its properties are located in Nevada, Mississippi, Illinois, Missouri, Colorado, Idaho, and Iowa.

Ameristar Casinos has already traded 1.54 times its 3-month average volume, and has calculated support and resistance at $19.28 and $20.63 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.23% from its previous trading close, which means that Ameristar Casinos stock is outperforming the overall market.

UPDATE: Jefferies Raises PT to $24 on Ameristar Casinos; Margin Strength, Better Top-Line - Benzinga
Viva Lost Wages: 8 Casino Stocks That Are on a Roll - TheStreet.com
Sterne Agee Reiterates Neutral, $21 Target on Ameristar Casinos - Benzinga
Ameristar Casinos Increases Cash Dividend by 19% - Benzinga
Ameristar Casinos Stock To Go Ex-dividend Monday (ASCA) - TheStreet.com

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