Casino Stocks Could Be A Good Bet Soon

President & CEO Chief Market Strategist at IntheMoneyStocks.com • May 12, 2020 at 3:42 PM EDT

Leading casino stocks have been trading sideways for the past several weeks. Anytime an industry group trades sideways and is off the lows it is building a base to potentially move higher.

Many of the leading casino stocks have been holding up lately. As we all know, this industry group was slammed in March with the coronavirus selloff. At this time, leading casino stocks such as Wynn Resorts Ltd (Nasdaq: WYNN), Las Vegas Sands Corp (NYSE: LVS) and MGM Resorts International (NYSE: MGM) have been trading sideways for the past several weeks. Anytime an industry group trades sideways and is off the lows it is building a base to potentially move higher. These stocks are also trading just above their 50-day moving average.

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