Penn National Gaming Stock Forecast
Penn National Gaming stock price down 0.605% on Wednesday
(Updated on May 01, 2024)
The Penn National Gaming stock price fell by -0.605% on the last day (Wednesday, 1st May 2024) from $16.54 to $16.44. During the last trading day the stock fluctuated 5.22% from a day low at $16.27 to a day high of $17.12. The price has been going up and down for this period, and there has been a 1.11% gain for the last 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately $121.10 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.02% during the next 3 months and, with a 90% probability hold a price between $12.53 and $15.63 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PENN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.86%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Penn National Gaming stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.05 and $17.33. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Penn National Gaming stock
Penn National Gaming finds support from accumulated volume at $16.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.85 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 3.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PENN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Penn National Gaming to open at $16.61, and during the day (based on 14 day Average True Range), to move between $15.69 and $17.19, which gives a possible trading interval of +/-$0.747 (+/-4.55%) up or down from last closing price. If Penn National Gaming takes out the full calculated possible swing range there will be an estimated 9.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.54 (0.61%) than the support at $16.28 (0.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Penn National Gaming will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.590. We will update the financials statements for Penn National Gaming, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.43% in the first trading day after earnings release.
Is Penn National Gaming stock A Buy?
Penn National Gaming holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.443 Sell Candidate Unchanged
Predicted Opening Price for Penn National Gaming of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $16.61 ( 1.03%) | $16.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PENN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.46 | 6.20 % | |
| R2 | 17.14 | 4.23 % | ||
| R1 | 16.93 | 3.01 % | ||
| Current price: | 16.44 | |||
| Support | S1 | 16.29 | -0.94 % | |
| S2 | 16.08 | -2.16 % | ||
| S3 | 15.76 | -4.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.39 | 17.91 % | |
| R2 | 17.03 | 3.59 % | ||
| R1 | 16.54 | 0.608 % | ||
| Current price | 16.44 | |||
| Support | S1 | 16.28 | -0.97% | |
| S2 | 16.26 | -1.09% | ||
| S3 | 16.14 | -1.82% |
PENN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2017 | Jun 14, 2017 | Jun 14, 2017 | $0.620 | 2.86% |
| 2 | Mar 09, 2017 | Mar 09, 2017 | Mar 09, 2017 | $0.620 | 4.25% |
| 3 | Jun 26, 2008 | Jun 26, 2008 | Jul 15, 2008 | $0.340 | 6.01% |
FAQ
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