PENN Entertainment (PENN) Recently Broke Out Above the 200-Day Moving Average

After reaching an important support level, PENN Entertainment (PENN) could be a good stock pick from a technical perspective. PENN surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.PENN could be on the verge of another rally after moving 5.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.Looking at PENN's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.Investors should think about putting PENN on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 PENN Entertainment, Inc. (PENN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks