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Watch for Penn Natl Gaming to Potentially Pullback After Gaining 2.75% Yesterday

By David Diaz

Penn Natl Gaming (NASDAQ:PENN) traded in a range yesterday that spanned from a low of $27.23 to a high of $28.20. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $27.66 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Penn Natl Gaming on February 5th, 2018 by issuing a Downtrend alert when the shares were trading at $30.63. Since that call, shares of Penn Natl Gaming have fallen 12.0%. 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 Gaming has traded in a range of $11.93 to $33.30 and is now at $27.87, 134% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

Keywords: rebounders penn natl gaming

Ticker(s): PENN