Casino Stocks Wrap Up - Lower: ASCA, PENN

Published on Friday, 06 July 2012 17:06 Written by Gerard Lerod

New York, July 6th (TradersHuddle.com) - Casino stocks ended the session lower by closing -1.05% versus their previous day close. Casino stocks had widespread weakness with 2 out of 7 casino companies trading higher.

Ameristar Casinos (NASDAQ:ASCA) was the top performer of the casino stocks today closing at $18.06 representing 0.61%. 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 $17.34 and resistance at $19.38.

Penn National Gaming (NASDAQ:PENN) was also among the top performers, closed the trading session at $45.21 representing 0.51% from its previous close. Penn National Gaming, the owner and operator of casinos in Mississippi, and a riverboat gaming facility in Louisiana has calculated support and resistance levels at $43.37 and $46.55 respectively.

Casino Stocks worst performers include Las Vegas Sands (NYSE:LVS) that closed the trading session at $42.29 or -2.95% from the previous close. Las Vegas Sands, the owner and operator of casino resorts and convention centers in the U.S., Macau, and Singapore shares have defined support at $41.75 and resistance at $44.10. Also among the worst performers was MGM Resorts (NYSE:MGM), which closed the trading session at $10.72 representing -2.5% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1354.68, -12.9 points or -0.94% from the previous trading session.