Mid-Day Update - Casinos Outperfoming: MGM, LVS

Published on Wednesday, 08 February 2012 11:52 Written by Christopher Lynn

New York, February 8th (TradersHuddle.com) - Casino stocks are trading higher by 0.65% versus their previous trading day close. Casino stocks are having a pretty much broad rally with 6 out of 7 casino companies trading higher.

MGM Resorts (NYSE:MGM) is the top performer of the casino stocks today trading at $14.18 representing 1.58%. versus the previous trading session. MGM Resorts, the hospitality and gaming Company owner of properties like the Bellagio and MGM Grand in Las Vegas, NV, shares have defined support at $12.71 and resistance at $14.55.

Las Vegas Sands (NYSE:LVS) is also among the top performers, currently trading at $51.78 representing 1.41% from its previous close. Las Vegas Sands, the owner and operator of casino resorts and convention centers in the U.S., Macau, and Singapore has calculated support and resistance levels at $41.77 and $52.35 respectively.

Casino Stocks worst performers include Ameristar Casinos (NASDAQ:ASCA) that is trading at $20.3 or -0.93% from the previous close. 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 $18.42 and resistance at $21.15. Also among the worst performers is Isle of Capri Casinos (NASDAQ:ISLE), which so far is trading at $5.35 representing 0.05% from the previous trading session.

Casino stocks are outperforming the broad market S&P 500 Index is currently trading at 1343, -4.05 points or -0.3% from the previous trading session.