Casino Stocks Hit Blackjack Early
The major stock markets are catching a bid higher. One sector that has been beaten up lately has been the casino stocks, however, this morning these stocks are surging higher from the morning lows. Wynn Resorts LTD (NASDAQ:WYNN), Las Vegas Sands Corp. (NYSE:LVS), and MGM Resorts International (NYSE:MGM) are all trading higher on the session.
The most important casino stock is Wynn Resorts LTD (NASDAQ:WYNN). This stock is the leading casino name and the other stocks in the sector will usually follow in the footsteps of WYNN stock. Short term traders should watch for intra-day resistance around the $140.50, and $142.80 levels. The stock could see short term intra-day pullbacks around these resistance areas.