Casino Stocks Wrap Up - Lower: PENN, WYNN

Published on Monday, 27 August 2012 17:06 Written by Christopher Lynn

New York, August 27th (TradersHuddle.com) - Casino stocks ended the session lower by closing -0.74% versus their previous day close. Casino stocks had widespread weakness with 2 out of 7 casino companies trading higher.

Penn National Gaming (NASDAQ:PENN) was the top performer of the casino stocks today closing at $38.69 representing 0.39%. versus the previous trading session. The shares of Penn National Gaming, the owner and operator of casinos in Mississippi, and a riverboat gaming facility in Louisiana have defined support at $37.03 and resistance at $39.50.

Wynn Resorts (NASDAQ:WYNN) was also among the top performers, closed the trading session at $105.47 representing 0.13% from its previous close. Wynn Resorts, the luxury casino operator has calculated support and resistance levels at $90.11 and $110.00 respectively.

Casino Stocks worst performers include Pinnacle Entertainment (NYSE:PNK) that closed the trading session at $11.38 or -1.73% from the previous close. Pinnacle Entertainment, the owner and operator of casinos and casinos resorts throughout the U.S. and Argentina shares have defined support at $9.00 and resistance at $11.70. Also among the worst performers was MGM Resorts (NYSE:MGM), which closed the trading session at $10.15 representing -1.55% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1410.44, -0.69 points or -0.05% from the previous trading session.