PENN - WAIT AND SEE BIG MOVE UP OR DOWN
All,
PENN is WW here. I need a break both ways to enter unless you want to do a 1:1 ratio short puts to calls same timeframe or short term PUTS and long term calls 2:1 (bullsih bias) overall. Personally just would wait and see.
Bullish Bias- Positive ER not necessarily factored in yet due to downtrend / resistance. Would need to do a ltitle more digging on fundamentals to see if it was already over priced, but has alreadyh came down a bit to begin with. SEMI more bull biased, but see bearish bias.
Bearish Bias- Broke important trend AND looks like a H&S on Daily.
PENN is WW here. I need a break both ways to enter unless you want to do a 1:1 ratio short puts to calls same timeframe or short term PUTS and long term calls 2:1 (bullsih bias) overall. Personally just would wait and see.
Bullish Bias- Positive ER not necessarily factored in yet due to downtrend / resistance. Would need to do a ltitle more digging on fundamentals to see if it was already over priced, but has alreadyh came down a bit to begin with. SEMI more bull biased, but see bearish bias.
Bearish Bias- Broke important trend AND looks like a H&S on Daily.
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