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Bullish Moving Average Cross by Penn National Gaming (PENN)

By David Diaz

Today, shares of Penn National Gaming (NASDAQ:PENN) have crossed bullishly above their 10-day moving average of $14.64 on a volume of 865K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Penn National Gaming have traded between a low of $12.51 and a high of $20.23 and are now at $14.80, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Penn National Gaming on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $16.00. Since that call, shares of Penn National Gaming have fallen 9.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses penn national gaming

Ticker(s): PENN