$2.87 low of 23 March is what is currently controlling it. It seems to be respecting that low of $2.87 for now.
From the past 2 hours action, it appears it is going to hold. But that doesn't mean this is the bottom and we get an uptrend back up to $4.00 from here.
What I think is we start a small bounce here of 5-6% size to $3.02-$3.05 (close that recent gap) and the weakness and problems continue. Down to next support at $2.71 of 24 December 2018, then worst case to $2.65 .
This is not going to go up beyond $3.29 in the next 12 months. There is no positive event that will make it go up anymore.
There needs to be a catalyst for this to turn around. Penn needs to really focus and do something.
TLS Price at posting:
$2.90 Sentiment: Buy Disclosure: Held
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