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RS3175
Aug 21, 2023 9:34 AM

PENN's Pain May Soon Be Over Long

PENN Entertainment, Inc.NASDAQ

Description

PENN has been in a symmetrical descending triangle formation for a year. It is near a key support level. Likely to start uptrend in September.
Comments
warrior5715
broke down :'(
RS3175
@warrior5715, Yes, I should have analysed more carefully. 20 is a strong consolidation level for PENN. It consolidated at this level for nearly a year from November 2018 to October 2019. This was also where PENN received strong resistance in July 2015. Starting now, PENN should start consolidating around 20 level. However, if the support (green line) is broken, PENN may reach 10 or even lower.
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