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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 at a new 52-week high today of $36.90. Approximately 123,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

Penn Natl Gaming (NASDAQ:PENN) defies analysts with a current price ($36.60) 3.2% above its average consensus price target of $35.42. The stock should discover initial support at its 50-day moving average (MA) of $33.57 and subsequent support at its 200-day MA of $29.16.

In the past 52 weeks, Penn Natl Gaming share prices have been bracketed by a low of $19.98 and a high of $36.90 and are now at $36.60, 83% above that low price. The 200-day and 50-day moving averages have moved 0.91% higher and 1.35% higher over the past week, respectively.

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.

SmarTrend is monitoring the recent change of momentum in Penn Natl Gaming. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Penn Natl Gaming in search of a potential trend change.

Keywords: 52 week high/lows penn natl gaming

Ticker(s): PENN