Sector Wrap Up - Casinos Higher: PNK, ISLE

Published on Friday, 29 June 2012 17:06 Written by Christopher Lynn

New York, June 29th (TradersHuddle.com) - Casino stocks ended the session higher by closing 2.92% versus their previous day close. Casino stocks had a broad rally with 7 out of 7 casino companies trading higher.

Pinnacle Entertainment (NYSE:PNK) was the top performer of the casino stocks today closing at $9.63 representing 5.36%. versus the previous trading session. The shares of Pinnacle Entertainment, the owner and operator of casinos and casinos resorts throughout the U.S. and Argentina have defined support at $9.16 and resistance at $10.08.

Isle of Capri Casinos (NASDAQ:ISLE) was also among the top performers, closed the trading session at $6.17 representing 4.75% from its previous close. Isle of Capri Casinos, the owner and operator of branded casino resorts throughout the U.S., the U.K. and the Bahamas has calculated support and resistance levels at $5.02 and $5.58 respectively.

Casino Stocks worst performers include Penn National Gaming (NASDAQ:PENN) that closed the trading session at $44.59 or 1.53% 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 $43.41 and resistance at $46.55. Also among the worst performers was Wynn Resorts (NASDAQ:WYNN), which closed the trading session at $103.72 representing 1.68% from the previous trading session.

Casino stocks outperformed the broad market S&P 500 Index that closed the trading session at 1362.16, 33.12 points or 2.49% from the previous trading session.