Insights: Bullish Casino Stocks
US-listed casino stocks are bullishly inflecting, following in the path of Macau-based names.• Consumer Discretionary remains characterized by scant supplies of relative strength. With miserable breadth, especially in the retailers and restaurants, it ranks ahead of only one Sector (Energy). Exposure should be limited to a select few Groups, including Auto Manufacturers, Education Services, Homebuilders, and Casinos & Gaming.
• In the case of the latter--casinos--we are seeing widespread bullish inflections develop, especially in our Small-Cap Group. We view this as an attractive time to add exposure to this theme, a recommendation bolstered by equally attractive action in overseas Macau casinos (Galaxy Entertainment, MGM China, Wynn Macau, etc.).
• In today's report, we highlight actionable technical set-ups in the following names:
o Large-caps: LVS, MGM, WYNN, and MPEL
o Small & mid-caps: CACQ, CHDN, CNTY, CZR, MCRI, NYNY, and PENN.
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Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.
Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.
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