Mid-Day Update - Casinos Outperfoming: MGM, ISLE

Published on Tuesday, 14 August 2012 11:52 Written by Christopher Lynn

New York, August 14th (TradersHuddle.com) - Casino stocks are trading higher by 0.27% versus their previous trading day close. Casino stocks are mixed with 4 out of 7 casino companies trading higher.

MGM Resorts (NYSE:MGM) is the top performer of the casino stocks today trading at $10.1 representing 1.61%. versus the previous trading session. 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 $9.51 and resistance at $10.36.

Isle of Capri Casinos (NASDAQ:ISLE) is also among the top performers, currently trading at $6.2 representing 1.47% 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 $5.60 and $6.60 respectively.

Casino Stocks worst performers include Pinnacle Entertainment (NYSE:PNK) that is trading at $10.84 or -0.73% from the previous close. The Shares of Pinnacle Entertainment, the owner and operator of casinos and casinos resorts throughout the U.S. and Argentina have defined support at $9.00 and resistance at $11.15. Also among the worst performers is Las Vegas Sands (NYSE:LVS), which so far is trading at $39.24 representing -0.33% from the previous trading session.

Casino stocks are outperforming the broad market S&P 500 Index is currently trading at 1407.55, 3.44 points or 0.24% from the previous trading session.