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

By Nick Russo

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.

Over the past year, Penn Natl Gaming has traded in a range of $17.30 to $36.90 and is now at $21.99, 27% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.1%.

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: rebounders penn natl gaming

Ticker(s): PENN