Mid-Day Update - Casinos Underperfoming: PNK, PENN

Published on Wednesday, 14 November 2012 11:52 Written by Christopher Lynn

New York, November 14th (TradersHuddle.com) - Casino stocks are trading lower by -0.78% versus their previous trading day close. Casino stocks are having a broad decline with 1 out of 7 casino companies trading higher.

Pinnacle Entertainment (NYSE:PNK) is the top performer of the casino stocks today trading at $11.79 representing 1.2%. versus the previous trading session. Pinnacle Entertainment, the owner and operator of casinos and casinos resorts throughout the U.S. and Argentina, shares have defined support at $11.63 and resistance at $13.29.

Penn National Gaming (NASDAQ:PENN) is also among the top performers, currently trading at $38.02 representing -0.34% 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 $38.33 and $43.37 respectively.

Casino Stocks worst performers include Las Vegas Sands (NYSE:LVS) that is trading at $42.51 or -2.19% from the previous close. The Shares of Las Vegas Sands, the owner and operator of casino resorts and convention centers in the U.S., Macau, and Singapore have defined support at $42.35 and resistance at $47.20. Also among the worst performers is MGM Resorts (NYSE:MGM), which so far is trading at $9.45 representing -1.46% from the previous trading session.

Casino stocks are underperforming the broad market S&P 500 Index is currently trading at 1368.63, -5.9 points or -0.43% from the previous trading session.