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Shares of Penn Natl Gaming Fall to a New 52-Week Low

By Shiri Gupta

Shares of Penn Natl Gaming (NASDAQ:PENN) traded at a new 52-week low today of $16.82. This new low was reached on below average trading volume as 117,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Penn National Gaming, Inc. owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions. The company was formerly known as PNRC Corp. and changed its name to Penn National Gaming, Inc. in 1994. Penn National Gaming, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania.

In the past 52 weeks, shares of Penn Natl Gaming have traded between the current low of $16.82 and a high of $35.36 and are now at $16.82. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.2%.

Penn Natl Gaming has overhead space with shares priced $16.82, or 52.5% below the average consensus analyst price target of $35.42. Penn Natl Gaming shares should first meet resistance at the 50-day moving average (MA) of $18.93 and find additional resistance at the 200-day MA of $21.24.

SmarTrend recommended that its subscribers protect gains by selling shares of Penn Natl Gaming on March 7th, 2019 by issuing a Downtrend alert when the shares were trading at $22.94. Since that call, shares of Penn Natl Gaming have fallen 25.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows penn natl gaming

Ticker(s): PENN