PENN
WYNNI WOULD GO SHORT UNDER 70. OR YOU CAN WAIT FOR 67.42.
IF WYNN BREAKS UNDER 67.54 IT SHOULD SELL OFF.
Buy Zone and Target for Penn National Gaming $PENNWhat i think $PENN will do in the upcoming days
(Not financial advice)
$PENN Bearish Descending Triangle 10%-15% Downside$PENN Bearish Descending Triangle 10%-15% Downside
Monitor for break below $28.00 support
Near term target: $24-$26 range
PENNMultiple support bounces around 28.50 and consolidation at the end of a descending triangle chart pattern. Although slowly, sports are making a comeback and with it PENN may look to shoot higher.
PENN UPDATE:WAIT FOR 39 OR 40 TO GO LONG ON THIS. PENN NEEDS TO HOLD 27.
**The United States has broken its single-day record for new coronavirus cases, with more than 70,000 infections reported today, according to a tally by NBC News. Official confirmation from the CDC
Many bars are closing again. It's possible casinos can be next. So be careful if you're long on this.
PENN Breakout Next WeekSideways Consolidation for a couple of weeks now. Target 1 around $36.50 (Fib1 length) Target 2 $40. Recent NASDAQ:PENN Deal done with Barstool Sports for online sports betting. 7/23 earnings date
Wow, my trading buddy found us another potential cup&handle NASDAQ:PENN
We have a potential massively bullish play here. If it can close above $38 soon then we could see a massive run! I'm anxiously waiting to see if it will confirm. If it takes too long then it won't be valid.
PENN MovementPenn National Gaming (PENN) has been a great mover in the past few months going from mid-March lows of around $4 all the way up to $40. Since then, PENN has been in a nice consolidation with a good resistance around 27.50. PENN has formed a nice falling wedge chart pattern over the past 10 days, and could look for an upward breakout out of the pattern. With a breakout, PENN could look to retest the $35 area and possibly to $40.
CHWY52 is a tough level. I would wait for CHWY to break and hold over 52 to go long. I would use a tight stop loss if CHWY breaks under 52.
If CHWY fails at 47.55 it can fall to 45.70, 43.89.
I would go long over 52, or go short under 50, or you can wait for it to break under 47.55.
*There was lots of Bullish Flow on Friday.
DKNG Scalp trade and Long term plansDraftKings Inc. operates as a digital sports entertainment and gaming company. It provides users with daily sports, sports betting, and iGaming opportunities. It is also involved the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.
I like this as a long term company too but we missed the opportunity to buy the dip.
Long term, i would pick some more up at $11.
Short term, there's a quick scalp opportunity
Buy at $21.90
Stoploss at $20.90
target $23.90
We got some possible bullish catalyst coming up with ufc fighting starting up again.
Penn National Gaming $PENN$PENN is struggling to break $18.74 so far. RSI is weaker than previous high.
$PENN Lures Traders in at Monster Technical SupportPENN has a clear MACD bullish divergence now in place as the stock rebounds off of a very important long-term support level in place going all the way back to 2008 and the global financial crisis.
$PENN Pump and dump. BTFDId say this would be worth the risk.
As long as the company doesnt collapse...
PENN-BARSTOOL become the face of all forms of legal gamblingThe current weekly chart is simply not parabolic enough for this partnership. The partnership of a generational media company already well versed in gambling combined with a brick and mortar casino company just blew the doors open. Current USA laws are now enemy number one for Dave Portnoy's bottom line. This will shift the tide of lobbying money behind the scenes along with already increasing numbers of how online products can increase brick and mortar numbers. Barstool sportsbook, barstool pizzerias inside casinos, barstool poker, barstool blackjack, the possibilities are endless with a battle tested following. This stock will quadruple in 5 years or less. First stop $50-$55
DIS (ESPN) - Sports Betting Season in common with CHDN, PENN, BYDIS
Disney who owns ESPN has a few commonalities with sports betting and that's the NFL season ( Sept. - Feb.)
* Last Sept. to Feb was a strong run for the markets, so comparisons used here to show sector trend.
* Overlay SP500, NAS100 to know better than market
* Overlay sports betting Churchill Downs (CHDN), Penn Gaming (PENN), and Boyds (BYD) Gaming
* Current trend is with US states approving sports betting, not gambling is not used in legislative wordings....
* NFL season creates more betting than any other sport. ( except cricket mate...right?, Rugby7's, World Cup of Darts, no?!)
* BYD pays ~ 0.7% Div., PENN no Div., and CHDN pays a ~2.3% Div, but DISNEY, who owns ESPN pays a ~ 3.0% Div. yield
* BETA for betting is quite high, while DIS is low and near SP500 / NAS100 lines excluding the compounding dividend.
* Don't bet, just invest. This sector in risky with aggressive ups.
Comments for self. Post one comment if you look at this please (like/agree/disagree/fan/funny/WOT).
