Perhaps a bit to Fall yetHead and shoulders.
I am not thinking tis will go to 11 but plan to watch/when it starts to move up I will re-evaluate.
No recommendation/
PENN trade ideas
PENN Heading to $32 ??PENN went into new highs now back to the Covid lows. IF the current levels doesnt hold at 42 it could very well be slipping down to $32 zone for any reasonable consolidation to happen
Lucky if you can have short term bounce if mkt allows to get you an exit
PENN Return the casinos and bets and the title could go upThe policy of cohabitation with the covid has allowed betting rooms and casino reopening,
The Americans therefore want to gamble.
Return also the investors on the Stock, it seems there is a consistent increase of the positions LONG from the professional investors while the Institutional ones constantly reduce their positions SHORT in view of a passage LONG possible in the next weeks.
The title has certainly suffered much the blow of this last wave and the previous positions but seems projected to rise.
It will really go up ?
We’ll see it in the next few weeks
What do you think?
local resistance must break 👀a couple outcomes here, today it was rejected at local resistance.. so we either dip and retest recent previous trend resistance then bounce.
Or we break 53.71 in the next few weeks and rally to 62.42.
like and follow for more 💘
Worst vs RestI was following the x4 OPEX closely last week because options are the market.
The amount of QE liquidity in options over the past 2yrs has been distorting this bull trend for 2 yrs but also causes predicable dips during OPEX.
So it wasn't a surprise Thu-Fri Dip to 20 50 EMA was this predictable.
The only question now remains.
Do we rally back next week OR does the real correction start?
Most of the evidence I observe points to a rally.
But there is a mounting case for further correction to the downside.
Further downside would trigger liquidations and amplify bull capitulation.
Next week is THE week. Christmas Rally or Coal.
Choose a side.
$PENN - a confirmation of long term downtrend?We can see the giant Inverted Head and Shoulders on the daily chart, which is now further stretched down to $45.
I think this fall is enough, to confirm major long term downtrend, unless the trend reverses and holds above $87, which seems far away from the current price.
Not Looking Good )o:Maybe set some stops.
Life does not always turn out the way we want it to. 0;
Possible crab/If short, then stop above the neckline which has been broken may suffice which is 61.02
PENN Bottoming Out$PENN hitting the -2bottom Murrey line signaling extreme oversold conditions, this will reverse anytime.
PENN Long - One Dip, Everybody Knows The Rules.Penn has experienced a substantial drop in share price due to a correlated attack from Business Insider against CEO David Portnoy being released the same day as an earnings miss. The CEO of Business Insider is barred from ever trading securities again in the United States derived from a history of insider trading. Penn Is a large player in the Casino industry and have been seen in recent years branching out to other forms of media. Long story short - Penn is highly-highly undervalued in this position and the market will soon capitalize on the opportunity.
I typically don't post equity charts but this one is free money.
-xx HoodChef
PEN- Ascending Channel - Rejected at the top
PEN - Rejected at ascending top channel-
It will touch the bottom of the channel .
PENNEducational Study plus some Prediction magic. Curious to see price actions reaction to those Doji's
PENN LongTrendline break
Entry 78
Stop 69
Target 110
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
PENN- Symmetric Triangle break out -Follow through PENN : Broke the symmetric triangle.
Flow is bullish on follow through day
MACD : Bullish
$PENN Penn national On verge of Major Move
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PENN daily squeezeSeeing price squeezing inside this symmetrical triangle,
Worth keeping an eye on it and wait for a breakout
$PENN channel.Playing the bottom of a channel. If the range is wide enough, playing the bottom of a channel can be very good r/r.
$PENN Weekly swing ideaPenn 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 trade and look for a move back down to $70
Momo has my bias to the upside given overall market stays in line.
