Penn National Gaming - Top Performing Casino Stock - Mid-Day Update

Published on Friday, 16 November 2012 11:52 Written by Gerard Lerod

New York, November 16th (TradersHuddle.com) - Casino stocks are trading higher by 10.28% versus their previous trading day close. Casino stocks are having a broad rally with 7 out of 7 casino companies trading higher.

Penn National Gaming (NASDAQ:PENN) is the top performer of the casino stocks today trading at $48.7 representing 29.5%. versus the previous trading session. Penn National Gaming, the owner and operator of casinos in Mississippi, and a riverboat gaming facility in Louisiana, shares have defined support at $38.33 and resistance at $43.37.

Ameristar Casinos (NASDAQ:ASCA) is also among the top performers, currently trading at $19.44 representing 15.37% from its previous close. Ameristar Casinos, the gaming company that owns and operates casinos resorts in several states in the U.S. has calculated support and resistance levels at $16.78 and $18.86 respectively.

Casino Stocks worst performers include Wynn Resorts (NASDAQ:WYNN) that is trading at $107.27 or 2.6% from the previous close. The Shares of Wynn Resorts, the luxury casino operator have defined support at $111.82 and resistance at $123.64. Also among the worst performers is MGM Resorts (NYSE:MGM), which so far is trading at $9.66 representing 3.1% from the previous trading session.

Casino stocks are outperforming the broad market S&P 500 Index is currently trading at 1346.17, -7.16 points or -0.53% from the previous trading session.