Oct. 23 - Pain or Gain for PENN?Tomorrow is an interesting day for PENN. It broke through the 1-hour resistance (in the final hour), but held the Daily resistance line (Blue line). The stock bounced off the 50 MA and quickly moved to retrace 40%.
1. October 23 may see the stock open at the 50MA ($62.50) and run to $59 and recover or
1a. or will work its way down to $56.
or
2. Open above and run up to $65.25 (S1/R2) and find resistance at the original support line.
2a. If PENN runs to $65 and can't break through resistance then I think it's coiling up for a hard move to the S2 on Monday and Tuesday next week. The blue line becomes the (down) trendline.
