Touchdown Trade: PENN Entertainment Ready to Score Big at $36.90

PENN Entertainment is showing strong bullish momentum, positioning the stock to push toward the critical resistance level of $36.90. With an attractive risk-to-reward ratio of 8.31, this setup presents an excellent entry point for traders and investors looking to capitalize on its upward trajectory.

The stock is gaining further momentum as football season kicks off, historically driving increased user engagement and betting activity on PENN’s platform, particularly through Barstool Sportsbook. As the company benefits from seasonal spikes in sports betting, this momentum could propel the stock toward its next major resistance.

In addition to short-term seasonal tailwinds, PENN’s long-term fundamentals remain solid. The company continues to expand its sports betting and iGaming offerings across the U.S., benefiting from broader legalization efforts. Strategic partnerships and a focus on digital growth further enhance its competitive edge in the gaming industry.

With strong bullish momentum and an 8.31 risk-to-reward ratio, now is an optimal time to enter the stock and ride the momentum toward the $36.90 target.

https://www.tradingview.com/x/0O0p9W7v/

PENN