Sector Wrap Up - Casinos Lower: PNK, PENN

Published on Friday, 24 August 2012 17:06 Written by Danny Miller

New York, August 24th (TradersHuddle.com) - Casino stocks ended the session lower by closing -0.18% versus their previous day close. Casino stocks were mixed with a slight downside bias with 3 out of 7 casino companies trading higher.

Pinnacle Entertainment (NYSE:PNK) was the top performer of the casino stocks today closing at $11.55 representing 0.7%. 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 $9.00 and resistance at $11.70.

Penn National Gaming (NASDAQ:PENN) was also among the top performers, closed the trading session at $38.51 representing 0.6% 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 $37.03 and $39.50 respectively.

Casino Stocks worst performers include Las Vegas Sands (NYSE:LVS) that closed the trading session at $42.55 or -1.32% 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 $38.71 and resistance at $43.87. Also among the worst performers was Isle of Capri Casinos (NASDAQ:ISLE), which closed the trading session at $6.15 representing -0.42% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1411.13, 9.05 points or 0.65% from the previous trading session.