Draftkings potential H&S based on price action/structure

Based on the structure I'm seeing with DKNG I think it potentially develops an H&S construction. Whether it does or not, I think current levels are a good entry point.

Trade closed: stop reached

@30.05

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I am no longer involved but the possible H&S pattern may be developing. If so, I will get back long at the right should low which should be somewhere between $34 +/- .5%. I'll update with my long entry tomorrow or next week (likely next week).

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right shoulder* low

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The ideal price action we want to see for a healthy build of energy is a consolidation into the 382 for about 5 trading sessions - the more the better (2 weeks please). Consolidation builds energy for big moves. Something like the chart below (but with more consolidation) would be a very high probability right shoulder low before a move into the 40s.

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Right shoulder low hit:

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I see two possible patterns developing for DKNG to remain bullish longer term.

1) Consolidation at / or reversal from current 34-35 level.

2) Potential flag forming on the larger time frame (if right should lows don't hold), which could look something like this:

Looking at multiple possible outcomes helps with planning execution on larger and medium term time frames.

Ask yourself what would you do if x happens and how would you react...

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Neckline is getting more attractive..

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Broke out today. H&S likely completed

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Retested trendline today + structure... I added to my longs.

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DKNG remains a beast and is among the only beautiful stock set-ups I'm seeing

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New all time high today and above major structure. Now looking for $50 range as projected target

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+46% since breakout above and nearly a 2x since published post:

Incredible run

Lanmar

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Lanmar