Casinos Underperfomed: ISLE, LVS

Published on Tuesday, 24 July 2012 17:06 Written by Gerard Lerod

New York, July 24th (TradersHuddle.com) - Casino stocks ended the session lower by closing -1.95% versus their previous day close. Casino stocks had a broad decline with 1 out of 7 casino companies trading higher.

Isle of Capri Casinos (NASDAQ:ISLE) was the top performer of the casino stocks today closing at $5.62 representing 0.72%. 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 $6.20.

Las Vegas Sands (NYSE:LVS) was also among the top performers, closed the trading session at $38.56 representing -1.38% 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 $39.03 and $42.36 respectively.

Casino Stocks worst performers include MGM Resorts (NYSE:MGM) that closed the trading session at $9.32 or -4.66% from the previous close. 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 $9.72 and resistance at $10.47. Also among the worst performers was Pinnacle Entertainment (NYSE:PNK), which closed the trading session at $9.02 representing -3.53% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1338.31, -12.21 points or -0.9% from the previous trading session.