April 27th - IOTN PENN
Cramer's speculation Friday pick was Ionatron Inc. (IOTN)
Closing Price: $5.09
After Hours High: $7.00
Percent Increase at High: 37.52%
After Hours Most Recent Price: $6.41
Percent Increase at Most Recent Price: 26.0%
Sector: Technology
Days to Cover: 23.2
Short %: 34.89 %
% Held by Insiders: 29.71 %
% Held by Institutions: 36.40 %
50 Day Moving Average: $5.20
200 Day Moving Average: $5.14
Cramer's final private equity takeover pick was Penn National Gaming Inc. (PENN)
Closing Price: $47.41
After Hours High: $ 49.10
Percent Increase at High: 3.56%
After Hours Most Recent Price: $ 48.80
Percent Increase at Most Recent Price: 2.93%
Sector: Services
Days to Cover: 3.4
Short %: 4.59 %
% Held by Insiders: %
% Held by Institutions: %
50 Day Moving Average: $45.59
200 Day Moving Average: $39.84
PENN had a decent gain after hours considering the attention IOTN got. This may be the forgotten stock come Monday (although it had over 50,000 shares traded after hours, but IOTN had over 700,000), which could make it vulnerable to an easy drop. The price was approaching the middle band, and is still below the top band on the chart. The price was also declining in recent trading days and the MACD just crossed on the downside. The chart is showing a bullish flag pattern, which is a continuation pattern (to the upside). The technical buy signal for such a pattern is when the price crosses above the top of the top flag area trend line, which in this case is around $49.75, which has not be reached here with this after hours action. So as long as the price doesn't reach that level, which it is about $1 above, there shouldn't be any mass technical buying.
Comments on "April 27th - IOTN PENN"
Great chart work on penn.