I really like to see the kind of wide agreement we are seeing in price action among the gaming stocks. I'm not yet willing to buy into this but am feeling a blast to the upside coming especially with the big inverted head and shoulders in motion.
PENN is running within a upward channel and now its declining from upper line of the channel. We would like to take the opportunity as it declines towards lower channel line. And if it declines further it can form a Hand & shoulder and go as low as $10. Trade Criteria Date first found- January 18, 2016 Entry Target Criteria- Break of $12.97 Exit Target...
PENN also running within a downward channel. Recently It is showing strong upward momentum, seems it is just breaking out. Moneyflow is also very good in positive side. Trade Criteria Entry Target Criteria- break of $14.29 Exit Target Criteria- First Target- $16.27; Second target- Momentum Stop Loss Criteria- $13.47 You can check our detailed analysis on...
$PENN broke falling wedge on daily to upside. Now in a coil around mid 14s. If it can hold the 50, look for a move to the 200 in the 15s.
Looking at daily chart we can see a great uptrend beginning on September 2013, that brings from 5$ to 18$. This uptrend needs a correction so applying Fib retrace lines we can see that a good target could be the 0.5 Fib line. At the moment the downtrend is taking the shape of a descending wedge. Also a measured target of the previous drop points to the 0.5 fib...