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Penn Natl Gaming Set to Possibly Rebound After Yesterday's Selloff of 2.79%

By Shiri Gupta

Penn Natl Gaming (NASDAQ:PENN) traded in a range yesterday that spanned from a low of $21.99 to a high of $22.05. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $22.58 on volume of 497,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, Penn Natl Gaming share prices have been bracketed by a low of $17.30 and a high of $36.90 and are now at $21.99, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.6%.

Keywords: rebounders penn natl gaming

Ticker(s): PENN