$PENN possible bullish breakout from a C&H on daily chart
$PENN has formed a classic Cup&Handle pattern since the pandemic started and is now looking to breakout from it
IMPORTANT NOTE: company is reporting ER TODAY before market opens.
Price is trading above all major MAs, RSI is 61 , MACD just crossed the signal and in positive area
IF the stock closes above cup neckline around 19.20 (ideally on volume bigger than the 20 MA VolAvg) look to enter a longer term trade with a measured target around 74.61
Good luck,
TA
IMPORTANT NOTE: company is reporting ER TODAY before market opens.
Price is trading above all major MAs, RSI is 61 , MACD just crossed the signal and in positive area
IF the stock closes above cup neckline around 19.20 (ideally on volume bigger than the 20 MA VolAvg) look to enter a longer term trade with a measured target around 74.61
Good luck,
TA