Million

Resistance

Simply

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>PENN stock price increased by 6.00% over the past week and the current price is below the major trendline.</a> </li> 
 <li> <span>2</span> <a>PENN Entertainment Inc. (NASDAQ: PENN) stock’s 52-week price range is $21 – $39.</a> </li> 
</ul> 
<p>PENN Entertainment stock has not performed well in the last month, decreasing by 5.43% and by 15.01% in the last six months. PENN Entertainment Inc. (PENN) stock has a negative year-to-date return of 22.77% and a negative one-year return of 24.19%. The average volume is 4.41 Million and the current volume is 8.761 Million where the current volume is above the 10-day average volume.&nbsp;</p> 
<p>Moreover, PENN Entertainment Inc. (PENN) stock market capitalization is $3.509 Billion and the shares float is $148.006 Million. Moreover, the stock’s basic EPS is $4.77 and the price-to-earnings ratio is 4.94.&nbsp;</p> 
<p>PENN Entertainment has a debt-to-equity ratio of 66.0%, as reported by Simply Wall St. This implies that it has less debt than equity, which is the difference between its total assets of $17.03 Billion and total liabilities of $12.82 Billion. PENN Entertainment’s debt is $2.78 Billion while its equity is $4.21 Billion.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-penn-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of PENN Stock Price in 1-D Timeframe</strong></h2> 
<p>The price action shows that PENN Entertainment Inc. (NASDAQ: PENN) stock price has been falling since November last year from $38 and nearly following trendline resistance effectively, it is noticed on the charts that on every quarter reports huge profit booking happens which leads the PENN stock price to fall by making lower highs and lower lows.&nbsp;</p> 
<p>At the time of writing, PENN stock is trading at around $23.32 and facing strong resistance from a downward trendline on the charts. The charts are strongly displaying a small rise but a big sell-off which is leading the price to reach new lows.</p> 
<p>Therefore, if the PENN price fails to sustain the current level and drops, it might hit the nearest support levels of $22 and $21.</p> 
<p>However, if it maintains the current level, the PENN prices could continue to move upward and reach the first and second resistances of $24 and $26.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="566" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-418-1024x566.png" alt="PENN Stock Forecast: Can (NASDAQ: PENN) Stock Thrust Upwards?" class="wp-image-168141" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-418-1024x566.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-418-300x166.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-418-768x424.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-418-750x414.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-418-1140x630.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-418.png 1461w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: PENN.1D.NYSE by TradingView
  </figcaption>
 </figure>
</div> 
<p>At the time of publishing, PENN Entertainment Inc. stock is trading between the major 20 and 50-day EMA (exponential moving averages).&nbsp;</p> 
<p>The MACD line at 0.6346 and signal line at 0.6282 are below the zero line and both lines have crossed each other frequently showing a lean histogram indicating neutrality.</p> 
<p>The current value of RSI is 50.36 points. The 14 SMA is below the median line at 42.57 points which indicates that PENN stock is in neutral territory.</p> 
<p>Collectively, it may be presumed that the stock has neutral sentiment, it can continue it’s structure either upwards if it surpasses the trendline on charts or the price could keep on plummeting like it’s usual trend.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/09/penn-entertainment-stock-shot-up-20-penn-stock-turned-bullish/" target="_blank" rel="noreferrer noopener">PENN Entertainment Inc. (NASDAQ: PENN)</a> chart indicates that the traders and investors of the stock price are uncertain of its movement in the 1-D time frame. The price action shows a two-way outlook on certain conditions at the time of publishing. The technical analysis tools of PENN stock price also show traits of neutrality.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels</strong>: $22 and $21</li> 
 <li><strong>Resistance levels:</strong> $24 and $26</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

PENN Stock Forecast: Can (NASDAQ: PENN) Stock Thrust Upwards?

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