PENN trade ideas
$PENN Bullish setup targeting 53-61 stoploss 40Bullish indicators with regards to the financial status but green candles with volume above previous top is very nice bullish setup based on stoploss of previous top at 40
Buy Zone and Target for Penn National Gaming $PENNMy buy zone and target for Penn National Gaming. If $PENN can hold my buy zone i belive we could see $PENN at the $50 soon.
(Not financial advice)
PENN into mark upPenn broke the ATH with volume. Is Penn going into mark up? if so i have a target up at the daily r5 pivot to finish off the 5 waves up... big correction to follow. good luck trade safe and have a great day.. DYOR
$PENN possible bullish breakout from a C&H on daily chart$PENN has formed a classic Cup&Handle pattern since the pandemic started and is now looking to breakout from it
IMPORTANT NOTE: company is reporting ER TODAY before market opens.
Price is trading above all major MAs, RSI is 61 , MACD just crossed the signal and in positive area
IF the stock closes above cup neckline around 19.20 (ideally on volume bigger than the 20 MA VolAvg) look to enter a longer term trade with a measured target around 74.61
Good luck,
TA
Buy Zone and Target for Penn National Gaming $PENNWhat i think $PENN will do in the upcoming days
(Not financial advice)
PENN General IdeaForming a wedge, I expect it to get rejected, then fail to retake the wedge, and eventually go around the trend line.
$PENN Bearish Descending Triangle 10%-15% Downside$PENN Bearish Descending Triangle 10%-15% Downside
Monitor for break below $28.00 support
Near term target: $24-$26 range
Nice bullish pennant shaping up on PENNKeep an eye out here over the next couple of days. Recently bounced off the 50 SMA strongly and looks primed for a run.
The market dump today pulled it back into the pattern, would like to see a confirmation break out just to be sure of this move.
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.
