Penn National Gaming (PENN) has been a great mover in the past few months going from mid-March lows of around $4 all the way up to $40. Since then, PENN has been in a nice consolidation with a good resistance around 27.50. PENN has formed a nice falling wedge chart pattern over the past 10 days, and could look for an upward breakout out of the pattern. With a breakout, PENN could look to retest the $35 area and possibly to $40.
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