Sector Wrap Up - Casinos Lower: MGM, WYNN

Published on Wednesday, 20 June 2012 17:06 Written by Danny Miller

New York, June 20th (TradersHuddle.com) - Casino stocks ended the session lower by closing -1% versus their previous day close. Casino stocks had widespread weakness with 2 out of 7 casino companies trading higher.

MGM Resorts (NYSE:MGM) was the top performer of the casino stocks today closing at $11.24 representing 0.9%. versus the previous trading session. The shares of MGM Resorts, the hospitality and gaming Company owner of properties like the Bellagio and MGM Grand in Las Vegas, NV have defined support at $10.66 and resistance at $11.73.

Wynn Resorts (NASDAQ:WYNN) was also among the top performers, closed the trading session at $104.64 representing 0.11% from its previous close. Wynn Resorts, the luxury casino operator has calculated support and resistance levels at $98.01 and $107.00 respectively.

Casino Stocks worst performers include Isle of Capri Casinos (NASDAQ:ISLE) that closed the trading session at $5.27 or -4.18% from the previous close. Isle of Capri Casinos, the owner and operator of branded casino resorts throughout the U.S., the U.K. and the Bahamas shares have defined support at $5.16 and resistance at $6.18. Also among the worst performers was Ameristar Casinos (NASDAQ:ASCA), which closed the trading session at $18.29 representing -2.14% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1355.69, -2.29 points or -0.17% from the previous trading session.