Trading Idea - Isle of Capri Casinos Breaking Out?

Published on Sunday, 22 January 2012 19:32 Written by Christian Paolinetti

New York, January 22nd (TradersHuddle.com) - Shares of Isle of Capri Casinos, Inc. (NASDAQ:ISLE) closed the trading session at $4.86 just above calculated resistance at $4.72 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Isle of Capri Casinos, Inc. (NASDAQ:ISLE) develops, owns, and operates branded gaming facilities and related lodging and entertainment facilities in markets throughout the United States and internationally. The Company operates casinos in multiple states around the U.S.

Isle of Capri's stock was trading in a well defined range with support at $4.38 and resistance at $4.72, given that this range was broken traders will be closely monitoring the stock