Draft Kings has completed its Head and shoulders after breaking the neck line at the start of November.
A sensible price target would be the the point at which the neck broke - this also correlates with the golden pocket region.
I do think that DKNG might have another 10% or so to fall, as the strength trading system ( as taught by enTHUZed ) would require us to form a tertiary low where the RSI kisses the 32% mark, ( at the moment its at 34% )... so not far to go now.
A sensible price target would be the the point at which the neck broke - this also correlates with the golden pocket region.
I do think that DKNG might have another 10% or so to fall, as the strength trading system ( as taught by enTHUZed ) would require us to form a tertiary low where the RSI kisses the 32% mark, ( at the moment its at 34% )... so not far to go now.
Note
3rd RSI retracement ( back to 32 ) occurred. Onwards and upwards
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.