Casinos Underperfomed: ISLE, MGM

Published on Wednesday, 18 July 2012 17:06 Written by Christopher Lynn

New York, July 18th (TradersHuddle.com) - Casino stocks ended the session higher by closing 0.54% versus their previous day close. Casino stocks had a pretty much broad rally with 6 out of 7 casino companies trading higher.

Isle of Capri Casinos (NASDAQ:ISLE) was the top performer of the casino stocks today closing at $5.98 representing 1.77%. versus the previous trading session. The shares of Isle of Capri Casinos, the owner and operator of branded casino resorts throughout the U.S., the U.K. and the Bahamas have defined support at $5.52 and resistance at $6.88.

MGM Resorts (NYSE:MGM) was also among the top performers, closed the trading session at $10.22 representing 1.69% from its previous close. MGM Resorts, the hospitality and gaming Company owner of properties like the Bellagio and MGM Grand in Las Vegas, NV has calculated support and resistance levels at $9.72 and $11.33 respectively.

Casino Stocks worst performers include Wynn Resorts (NASDAQ:WYNN) that closed the trading session at $96.71 or -0.67% from the previous close. Wynn Resorts, the luxury casino operator shares have defined support at $95.10 and resistance at $107.57. Also among the worst performers was Ameristar Casinos (NASDAQ:ASCA), which closed the trading session at $17.39 representing 0.29% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1372.78, 9.11 points or 0.67% from the previous trading session.