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Watch for Continued Gains in Shares of Penn Natl Gaming (PENN)

By Amy Schwartz

Shares of Penn Natl Gaming (NASDAQ:PENN) traded today at $36.29, breaking its 52-week high. So far today approximately 160,000 shares have been exchanged, as compared to an average 30-day volume of 798,000 shares.

Penn National Gaming, Inc. owns and operates Charles Town Races in West Virginia which features slot machines, casinos in Mississippi, and a riverboat gaming facility in Louisiana. The Company also owns racetracks and off-track wagering facilities in Pennsylvania, as well as manages a gaming facility in the Province of Ontario, Canada.

Penn Natl Gaming (NASDAQ:PENN) is currently priced 0.2% above its average consensus analyst price target of $35.42. The stock should discover initial support at its 200-day moving average (MA) of $16.39 and subsequent support at its 50-day MA of $15.78.

Over the past year, Penn Natl Gaming has traded in a range of $11.93 to $36.29 and is now at $35.47, 197% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of Penn Natl Gaming on April 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.42. Since that recommendation, shares of Penn Natl Gaming have risen 29.3%. We continue to monitor PENN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows penn natl gaming

Ticker(s): PENN