PENN trade ideas
$PENN LONG - First Target $110.00 PENN Gaming reversing from an oversold area looking to bounce off its 200 day moving average, in my opinion $80 is a fair price for a swing towards $110 near term. Not only is this respecting its support line near $75, but its trendline since August of last year. $110 is a conservative target, considering its trading range near $140 in March. Negative MACD value at these levels can give this reversal a lot of momentum to the upside if the market agrees with pushing this higher
PENN Gambling looking to increase their bottom lineUping their advertising dollars across the market as a whole at 15 times the normal amount spent in advertising.
by iCantw84it
05.19.2021
Penn Nat Showing signs of lifePenn Gaming printed 2 daily green candles, the last time it did that was March 11-12. Back to highs before the NFL season starts. Long And Strong from $75-$85
Obvious Correction on PennClear corrective behavior tells me we're likely to get another impulse up on Penn.
We could stay in the corrective pattern a bit longer, but once it breaks, new highs incoming.
First target $160.
PENN looking for revitalisationPENN fell through pretty vital support back at 98, and now has slumped down and trends above it's ultimate long term trendline:
Perhaps earnings is what this needs to boost it out of this downtrend since Feb. Earnings that aren't great might lead to quite a fall...
PENN LONGStarting to like PENN again. Might wait for it to break through that $97 resistance level though. Keeping an eye on it!
PENN LONG AND STRONG! PENN has recently bounced off support, and the RSI buying indicator triggered. Online Gambling legalization from state to state is becoming a trend in itself. Expecting a strong year from all online gambling due to the legalization happening across the United States.
PENN criticalOn critical life support here as it comes close to it's long uptrend line. Has to hold otherwise this really falls.
Portnoy Screwing Penn? Fib Fan says NOIt's been awhile since Penn dropped to a .5 retracement. Is El Presidente's sex tape tanking Penn, forcing it to break below a .382 retracement destined for .5, or is it just a natural retracement paired with awful timing of an illegally released tape? It looks to be the latter and unfortunately adds a little extra insult to injury. I'm not sure Penn will hit the .5 retracement due to the recent S&P inclusion.
My best read of this chart it that the inclusion will allow Penn to delay it's due retracement. I've reconfigured my chart from the one I posted on March 13 hopefully creating a more precise characterization of this equity. There still is a good chance this falls to the .5 retrace, before it takes off again. If it does, it will be an excellent jumping pad!
PENN Long And StrongI think PENN is oversold. The country is reopening and sports will be back in a BIG way. And do you know what's bigger than sports? SPORTS BETTING! PENN Nationals merger with Barstool Sports, a media company with hardcore sports fans was an end game move! They will be the biggest and lead the way for other sport betting companies. Sports betting will be legal in all 50 states in the future, the tax incentives are too massive to pass up. Barstool Sports book is only in 2 states so far, and already setting records. It's up only from here. Long PENN and prosper my friends! Cheers. I think PENN will be trading around $185-200 by 2022.
$PENN$PENN - Overall uptrend on the weekly and recent sell-off in the daily. This sell-off is similar to the previous two earnings (encircled) but reversed after the report. There is a support at $96, a buy signal for the long term, and resistance at 107 (swing). It needs to stay above the 108 levels and stronger momentum to reverse the trend.
$PENN to $110Penn looks to be forming a base at $99.43. lowest I see this thing is going is down to $95 if we break this major support. As of right now, over $99.43 and i'm looking at $106.50 followed by $110.95. Overall move for the swing would be the gap at $123.
PENN 15min:
PENN ready to make another runPENN looking like it is about ready to go back on a run.
Support is holding around $98.50. Set your limit price here (should get at least one or more touches before the big moves back up)
I'm setting my stop-loss for $90.5. It could be as tight as $93, but I like to allow a bit more wiggle room for a more volatile stock like PENN.
Could easily make a quick play for the $110 (11%) or hold out for a bigger more aggressive play to run up to $147 (50%) - or possibly even $177 by the end of summer.
I have a feeling the Bull Market will keep on running until at least late September-Early October.
PENN Breakout to Upside?Could go either way but I like this breaking out to the upside. Strong support ~$97-$98. Stochastic points to the upside on 4HR. 50 EMA has been acting as resistance and I would like to see a close above. What's everyone's thoughts?
Penn 110 + next 10 days or lessit looks like penn really likes this 100 area.
Its currently holding at the bottom of the BB, and below all of its moving averages.
140 is a great PT, but I think it just rose too quickly for people to hold. Lots of volume on 6/18 calls. Earnings is likely to crush but i think we see a move up 7-9 dollars in the next week or so, then likely slowly move to 120 before earnings. Long term I am bullish, Obviously with CEOs this vocal and volitile you are likely to swing a bit more.
i dont see much downside from its current spot.
consolidation faze but we can still eat here! so we have 3 selloffs after meeting top trendline resistance, and 3 bounces off the bottom support now, look for another rally top 125-130 if april gives us a bullish market! stop loss around 95. good risk reward here. goodluck! dont forget to like and follow if you enjoy my ideas :)
