Penn National Gaming - Chart Of The Day

Dec. 22, 2017 11:21 AM ETPENN
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Long Only, Momentum, Portfolio Strategy

Contributor Since 2009

Jim Van Meerten writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended post-baccalaureate and graduate courses in Business Administration, Quantitative Math, and Education at Florida Atlantic University, Georgia State University and University of North Carolina at Charlotte. In the past he has been an accountant, attorney, adjunct professor in Business Law, Accounting and Internal Auditing, financial advisor, supervisory principal, and compliance officer. He also passed the Georgia CPA Exam, the Certified Internal Auditor Exam, and the FINRA Series 7, 24 and 9/10 exams.He is presently also a contributor on MSN Top Stocks Blog, Motley Fool and is a member of the M100 on Marketocracy, an elete honor chosen by the editors of Marketocracy as being in the top 100 portfolio managers of over 100,000 portfoiios they review. He would enjoy hearing your comments at JimVanMeerten@gmail.com.

Summary

  • 96% technical buy signals.
  • 8 new highs and up 11.98% in the last month.
  • Relative Strength Index 67.71%.

The Chart of the Day belongs to Penn National Gaming (PENN).  I found the gaming stock by using Barchart to sort today's Top Stocks to Own list first for the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy in 8/31 the stock gained 38.80%.

Penn National Gaming, Inc. owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. They have also recently expanded into social online gaming offerings via Penn Interactive Ventures, LLC division and recent acquisition of Rocket Speed Inc.

PENN

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 127.67+ Weighted Alpha
  • 96% technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 8 new highs and up 11.98% in the last month
  • Relative Strength Index 67.71%
  • Technical support level at 30.71
  • Recently traded at 30.81 with a 50 day moving average of 27.22

Fundamental factors:

  • Market Cap $2.86 billion
  • P/E 41.76
  • Revenue expected to grow 2.30% this year and another 3.60% next year
  • Earnings estimated to increase 645.90% this year, decrease by 85.50% next year but have a compounded annual increase of 5.10% over the next 5 years
  • Wall Street analysts issued 1 strong buy, 5 buy and 5 hold recommendations on the stock
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