Above Resistance - Ameristar Casinos | Trading Ideas

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Above Resistance - Ameristar Casinos

Published on Thursday, 02 February 2012 05:28 Written by Christian Paolinetti

New York, February 2nd (TradersHuddle.com) - Shares of Ameristar Casinos, Inc. (NASDAQ:ASCA) closed the trading session at $20.94 just above calculated resistance at $20.63 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Ameristar Casinos, Inc. (NASDAQ:ASCA) is a gaming company that owns and operates casinos and related hotel, entertainment, and food and beverage facilities. Its properties are located in Nevada, Mississippi, Illinois, Missouri, Colorado, Idaho, and Iowa.

Ameristar Casinos' stock was trading in a well defined range with support at $19.28 and resistance at $20.63, given that this range was broken traders will be closely monitoring the stock

UPDATE: Jefferies Raises PT to $24 on Ameristar Casinos; Margin Strength, Better Top-Line - Benzinga
Viva Lost Wages: 8 Casino Stocks That Are on a Roll - TheStreet.com
Sterne Agee Reiterates Neutral, $21 Target on Ameristar Casinos - Benzinga
Ameristar Casinos Increases Cash Dividend by 19% - Benzinga
Ameristar Casinos Stock To Go Ex-dividend Monday (ASCA) - TheStreet.com

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