FriscoTrades

$PENN Weekly swing idea

Long
NASDAQ:PENN   Penn National Gaming, Inc
Penn on the weekly pretty bullish set up from a technical perspective for a swing trade going into EOY.

Nice base forming with a weekly close at the 21EMA, however strong resistance zone $84-86 .

Want to see a break of this, followed by possible retest similar to DEC 20 price action before continuing to the upside.

Failed break of resistance zone invalidates trade and look for a move back down to $70

Momo has my bias to the upside given overall market stays in line.


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