PENN , Penn National Gamin Weekly Chart AnalysisNASDAQ:PENN
Penn National Gaming, Weekly Chart Technical Analysis.
PENN trade ideas
PENN - Inverse H&S formation Long from $15.50 to $17.27PENN has broken out of a previous downward channel & now seems forming a inverse Head & Shoulder formation.
It also looking like a ascending triangle breakout with significant increase in moneyflow. We think it will test its next resistance around $17.30
* Trade Criteria *
Date First Found- March 15, 2017
Pattern/Why- Inverse H&S
Entry Target Criteria- Break of $15.50
Exit Target Criteria- $17.27
Stop Loss Criteria- $14.74
Please check back for Trade updates. (Note: Trade update is little delayed here.)
$PENN ihs??Looks like one of those big head and shoulder/triangle dealies to me. See if it breaks up or down. I'm betting up but will wait and see :)
PENN - short from upper channel line to lower line, possible H&SPENN 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 Criteria- First target $12.07; Possible second target $10
Stop Loss Criteria- $13.47
Trade Status: Pending
(Note: Trade update is delayed here.)
Buyout of Soul And Vibe, Inc (SOUL)There are rumors among major shareholders that Soul And Vibe (SOUL) is interested in selling. I think a deal may already be in the works.
PENN- Downward channel breakout trade from $14.3 to $16 & higherPENN 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 in the trading room/ Executive summary link here-
www.youtube.com
Time Span- 7:35"
Trade Status: Pending
Simetrical triangleIn my opinion this is the clasical simetrical triangle. Do you have other opinion? I think it is about 68 % to rich the target acording to Bulkowski.
$PENN falling wedge break and 50 MA test$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.
Classic Bearish Head and Shoulders' TopThere is a good chance that price may decline up to 29% from today's close. Real-time alerts go www.2waytrading.com
