Overall market is bearish, and PENN has been in a downtrend for a bit. I am expecting it to fill the gap at $30. The strong volume area also at that level should act as a magnet for price. The fact that price isn't free falling is actually pretty surprising considering how little volume has traded in this recent range.
support looks great, price has reacted pretty well. possible falling wedge breakout also
Forming invers head and shoulders. Neckline 51.74 if we can pop that and hold above as new support we are looking at a large reversal setup. If we lose 49,70s and start flipping that to resiatnce id be looking down closer to 46s with a low of 37s. If this inverse head and shoulder pays out first tarhet would be 62. Howver clear resiatnce at 59ish. So first take...
Next stop above 51.70 will be $53ish. $48.50 is the nearest support
Trendline brake and rejecting the high volume area. Entering on brake previous day low. First target 43 area Stop 48.66 Enter below 46.9 1.target 43.66
Weekly Bullish div on MACD-H and EFI. We do see 4 EFI diverging locally in the latest decline.sRSI is about to to a strong degree it seems, and might tick up. Daily: FB and 1st HL, impulse green. Might possibly start a new uptrend and fullfilling the weely setup "Entry: around 44 TP1: 57,14 TP2: 62,9 R/R Ratio
Earnings watch 2/3 pre-market: PENN NOK MRK COP SHEL LLY HON EL CI VSTO Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends... *3x lucky 7s of...
And that means Wave C is confirmed on some level. Wave C or Y of a more complex WXY type pattern. It is unclear which it is at this stage, as it is only early day of the last leg, but it does not matter as both scenarios are bearish. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci...
Head and shoulders. I am not thinking tis will go to 11 but plan to watch/when it starts to move up I will re-evaluate. No recommendation/
PENN is in a strong downtrend. Be safe. No recommendation
PENN went into new highs now back to the Covid lows. IF the current levels doesnt hold at 42 it could very well be slipping down to $32 zone for any reasonable consolidation to happen Lucky if you can have short term bounce if mkt allows to get you an exit
The policy of cohabitation with the covid has allowed betting rooms and casino reopening, The Americans therefore want to gamble. Return also the investors on the Stock, it seems there is a consistent increase of the positions LONG from the professional investors while the Institutional ones constantly reduce their positions SHORT in view of a passage LONG...
a couple outcomes here, today it was rejected at local resistance.. so we either dip and retest recent previous trend resistance then bounce. Or we break 53.71 in the next few weeks and rally to 62.42. like and follow for more 💘
I was following the x4 OPEX closely last week because options are the market. The amount of QE liquidity in options over the past 2yrs has been distorting this bull trend for 2 yrs but also causes predicable dips during OPEX. So it wasn't a surprise Thu-Fri Dip to 20 50 EMA was this predictable. The only question now remains. Do we rally back next...
Support coming up. Head and shoulders top from $PEN..........