How the (PENN) price action is used to our Advantage
March 09, 2024, 21:48 pm ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for PENN
- Buy PENN slightly over 17.85 target 21.06 stop loss @ 17.8 Details
The technical summary data tells us to buy PENN near 17.85 with an upside target of 21.06. This data also tells us to set a stop loss @ 17.8 to protect against excessive loss in case the stock begins to move against the trade. 17.85 is the first level of support below 18.31 , and by rule, any test of support is a buy signal. In this case, support 17.85 would be being tested, so a buy signal would exist.
- Short PENN slightly under 21.06, target 17.85, stop loss @ 21.12 Details
The technical summary data is suggesting a short of PENN as it gets near 21.06 with a downside target of 17.85. We should have a stop loss in place at 21.12though. 21.06 is the first level of resistance above 18.31, and by rule, any test of resistance is a short signal. In this case, if resistance 21.06 is being tested, so a short signal would exist.
Swing Trading Plans for PENN
- Buy PENN slightly over 19.02, target 21.06, Stop Loss @ 18.97 Details
If 19.02 begins to break higher, the technical summary data tells us to buy PENN just slightly over 19.02, with an upside target of 21.06. The data also tells us to set a stop loss @ 18.97 in case the stock turns against the trade. 19.02 is the first level of resistance above 18.31, and by rule, any break above resistance is a buy signal. In this case, 19.02, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short PENN slightly near 19.02, target 17.97, Stop Loss @ 19.07. Details
The technical summary data is suggesting a short of PENN if it tests 19.02 with a downside target of 17.97. We should have a stop loss in place at 19.07 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 19.02, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for PENN
- Buy PENN slightly over 19.02, target 21.06, Stop Loss @ 18.98 Details
If 19.02 begins to break higher, the technical summary data tells us to buy PENN just slightly over 19.02, with an upside target of 21.06. The data also tells us to set a stop loss @ 18.98 in case the stock turns against the trade. 19.02 is the first level of resistance above 18.31, and by rule, any break above resistance is a buy signal. In this case, 19.02, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short PENN slightly near 19.02, target 18.09, Stop Loss @ 19.06. Details
The technical summary data is suggesting a short of PENN if it tests 19.02 with a downside target of 18.09. We should have a stop loss in place at 19.06 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 19.02, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Penn Entertainment Inc. (PENN) available here: PENN.
PENN Ratings for March 09:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Weak |
Weak |
| P1 |
0 |
0 |
17.85 |
| P2 |
18.09 |
17.97 |
21.06 |
| P3 |
18.86 |
19.02 |
24.35 |
AI Generated Signals for PENN
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Penn Entertainment Inc. (NASDAQ: PENN) data table below can help you with price action, and we have more details too. Trading plans for PENN are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for PENN:
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