What Is the Accumulation Area? The accumulation area on a price and volume chart is characterized by mostly sideways stock price movement, which is seen by investors or technical analysts as indicative of large institutional investors buying, or accumulating, a large number of shares over time. Source: www.investopedia.com 1HR - Price trading sideways since...
Seeing price squeezing inside this symmetrical triangle, Worth keeping an eye on it and wait for a breakout
Penn on the weekly pretty bullish set up from a technical perspective for a swing trade going into EOY. Nice base forming with a weekly close at the 21EMA, however strong resistance zone $84-86 . Want to see a break of this, followed by possible retest similar to DEC 20 price action before continuing to the upside. Failed break of resistance zone invalidates...
PENN - Long above $80.20 (we have to make sure this isn't just a B wave bounce into C) & Short below $70.80 into green box. PT for longs: $92 - $101 PT: for shorts $54 - $64.15. I prefer 11/19 or 1/21/22 80C's for longs and 11/19 70P's for shorts.
General downtrend continues in this stock, and we believe we are about to enter another possible C Wave. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets going down are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing...
H & S noticed, we might see $65 (the upward trendline) on PENN in couple weeks if the whole market keeps its current selling momentum. Longing at $65 could be a good idea assuming PENN can keep its upward trendline. I personally believe the college football season or any related sport seasons are already priced in couple weeks ago.
Trading PENN with some calls here. I am betting it will bounce of strong support with football season starting.
Here is my recent analysis of NASDAQ:PENN stock price movement. As always I used my boxes strategy. Here is a recap of recent price action: Price dropped below 86 level in May 2021, which had acted as a support before. Then price tried to reclaim that level multiple times, but with no success. We can mark this level as a strong supply...
$PENN is forming a triple bottom and showing signs of a bullish reversal soon. Entered OCT calls. A break below volume shelf invalidates trade. High reward low risk in my opinion.
If anyone has placed their position in IWM few days ago when I wrote my analysis on IWM, please be careful with tomorrow's small caps market as IWM has reached to the crucial pivotal resistance point, either they could breakout and all small caps stocks will continue to rally OR a strong rejection to downside. Small caps stocks like DKNG, PENN, AMC, CROX, UPWK,...
Good fundamentals. Good earnings. Time to recover as sports season starts. I like their business models and acquisition strategies. I think they are the leader of online sports betting together with DraftKings.
DKNG crossed the creek of a persistent downward sloping supply line today after breaking above the .236 fibonacci level of the retracement shown on the chart. Anything above $48 is bullish and now that you have a decisive looking candle breaking out of the trendline on the daily, that only adds as further validation. The price is in the middle of our .236 to .382...
Penn National Gaming has quietly been gaining momentum during July after a massive fall in price since earlier this year. If we do a fib retracement from the swing high at $85 to its swing low at our bottom which is $63, we get a potential trade setup currently at the $71.84 price level. This $71 area is where the .382 fib level is, historically a great buy area...
Penn National Gaming, Inc. is an American 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 controls a 36% stake in Barstool Sports. With the US consumers sitting on over $5.4 trillion of additional savings as a result...
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...
NASDAQ:PENN was not on my immediate watchlist but I happened to notice the price action from last week giving a second solid rejection of the Weekly 50% Retracement. See below for swing timeframe spike...
DKNG 4HR TF Analysis After a 15% correction within a two day span from Hindenburgs claims on black market dealings/ illegal gambling, Buyers took advantage of that dip as it rallied 11% intraday and is currently consolidating for more upside. Retraced nicely to the .618 of May lows and Junes current highs and potentially forming a nice channel with lots of...