Poor Action In The Casino Stocks
The leading casino stocks are all trading lower at the start of the trading day. Earlier today, MGM Resorts International (NYSE:MGM) reported earnings that missed estimates. The stock is trading lower by 0.50 cents to $13.05 a share. Short term traders should watch for intra-day support around the $12.75 area.
Some of the other leading casino stocks that are declining lower today include Wynn Resorts, Limited
(NASDAQ:WYNN), Las Vegas Sands Corp. (NYSE:LVS), and Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL). All of these stocks could have a little more downside action today, however, the daily charts are still holding up at this time. These stocks look to be trading lower in sympathy to MGM.