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After Yesterday's Decline of 3.87%, Penn Natl Gaming Offers Investors Better Value

By David Diaz

Penn Natl Gaming (NASDAQ:PENN) traded in a range yesterday that spanned from a low of $20.56 to a high of $21.83. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $21.40 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Penn Natl Gaming on September 6th, 2018 by issuing a Downtrend alert when the shares were trading at $32.29. Since that call, shares of Penn Natl Gaming have fallen 32.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Penn Natl Gaminghas traded in a range of $20.56 to $36.90 and are now at $21.00. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 3.3%.

Keywords: rebounders penn natl gaming

Ticker(s): PENN