We had a breakout today at 23.80. Stoploss 23 or just below. We can target 26-28. This could pull back into 23.80 for retest but any buys from 24.20-23.80 is solid investment on this decided move up
Bullish set-up to watch for the upcoming week. Strong daily hammer candle to finish the week. Almost a month of consolidation between the 20 and 50 DMAs. Trying to break out and closed right at the 29.64 resistance area (old support). I'd buy on a pull back to the 20DMA(yellow) or clean break above the 50DMA and a flip of 29.64 as new support. This is a laggard...
NASDAQ:PENN Possible upside of Penn in the coming weeks $PENN
possible stop below c or where you see support. no recommendation
This is just my basic MONTHLY charting. I have marked what I see as the POSSIBLE bottom (support). I see overall DOWNTREND. I have marked my potential BUY LEVELS for LONGS//CALLS.
$PENN (Weekly & Daily) Short Term Outlook - Bullish PTs 37, 40, 44 Long Term Outlook (6-12 months) -Bullish Price Target --> $55-62
Nibbling here for a trade on penn we are in a large channel area where resiatnce e is 35.30. This could not workout but I’m anticipating a breakout of 35.30. I’m setting buys here between 33.70-33.80. Stoploss will be set 33.10 so 60-70 cent risk. Seems worth it to attempt this play will target 38$.
The end of the negative trend? The wedge shape seems to be broken, the movement of the indicators confirms the change. The exchange rate is looking for a direction. The next 5 waves emerging?
Penn National Gaming, Inc. is an operator of casinos and racetracks based in Wyomissing, Pennsylvania. It operates 44 facilities in the United States and Canada, many of them under the Hollywood Casino brand. The company also owns a 36% stake in Barstool Sports. In 2013, Penn completed the corporate spin-off of Gaming and Leisure Properties, a real estate...
It appears that this current bounce could just be an exhaustion push back up near the ATH's to suck in uneducated retail traders into long positions. There is heavy resistance above, and bullish price action support has been broke. I wouldnt be surprised to watch Dave Portnoy attempting to shill this up to his following to desperately trying to save the stock...
PENN PENN is currently in a downtrend since breaking down from 81 level. Price has now pulled back to 50 ema in form of a bear flag. On the pullback, price also rejecting resistance level at 51.65. On the last day of trading, price broke out and down from bear flag and the candle stick being an inverted hammer. This is my cue to enter trade. Entering trade...
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LONG-TERM: Major bullish shark with a double bottom at the PCZ , which lines up with pre-covid highs flipping into support, hidden bullish divergence on the daily, classic bullish divergence on the weekly, close to a falling wedge breakout. (not financial advice)
Overall market is bearish, and PENN has been in a downtrend for a bit. I am expecting it to fill the gap at $30. The strong volume area also at that level should act as a magnet for price. The fact that price isn't free falling is actually pretty surprising considering how little volume has traded in this recent range.
support looks great, price has reacted pretty well. possible falling wedge breakout also