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PENN Entertainment (PENN) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, PENN crossed above the 20-day moving average, suggesting a short-term bullish trend. <\/p>\n
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock’s price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages. <\/p>\n
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock’s price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend. <\/p>\n PENN could be on the verge of another rally after moving 8.5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock. <\/p>\n Looking at PENN’s earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well. <\/p>\n Investors should think about putting PENN on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions. <\/p>\n Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report<\/a> <\/p>\n PENN Entertainment, Inc. (PENN) : Free Stock Analysis Report<\/a> <\/p>\n This article originally published on Zacks Investment Research (zacks.com).<\/a> <\/p>\n