Sector Mid-Day Wrap - Casinos Higher: ASCA, LVS

Published on Monday, 19 November 2012 11:52 Written by Christian Paolinetti

New York, November 19th (TradersHuddle.com) - Casino stocks are trading higher by 2.83% versus their previous trading day close. Casino stocks are having a pretty much broad rally with 6 out of 7 casino companies trading higher.

Ameristar Casinos (NASDAQ:ASCA) is the top performer of the casino stocks today trading at $19.3 representing 14.54%. versus the previous trading session. Ameristar Casinos, the gaming company that owns and operates casinos resorts in several states in the U.S., shares have defined support at $16.78 and resistance at $18.86.

Las Vegas Sands (NYSE:LVS) is also among the top performers, currently trading at $43.53 representing 2.98% from its previous close. Las Vegas Sands, the owner and operator of casino resorts and convention centers in the U.S., Macau, and Singapore has calculated support and resistance levels at $40.28 and $47.20 respectively.

Casino Stocks worst performers include Pinnacle Entertainment (NYSE:PNK) that is trading at $12.57 or -0.63% 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 $11.39 and resistance at $13.29. Also among the worst performers is Penn National Gaming (NASDAQ:PENN), which so far is trading at $48.24 representing 0.02% from the previous trading session.

Casino stocks are outperforming the broad market S&P 500 Index is currently trading at 1380.94, 21.06 points or 1.55% from the previous trading session.