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ImportantImports

Bearish Long Term Head and Shoulders on DKNG

Short
DraftKings Inc. (NASDAQ:DKNG)  
ImportantImports Aggiornato   
NASDAQ:DKNG   DraftKings Inc.
Chart Patterns Head and Shoulders DKNG short draftkings shortsetup
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chartpattern headandshoulders dkng short draftkings shortsetup
Draft Kings looks to be breaking down under the neckline of a long term head and shoulders pattern. This is extremely bearish and suggests a target in the $15-$20 range based on the height of the head from the neckline. Possible retest of the neckline before the crash. If the neckline resistance holds, look out below. If DKNG can break through the neckline with confidence, the pattern and trade setup could be invalidated. I personally prefer to wait for the neckline test before entering a position.
Commento:
More conservative price target is $25, reasoning in a reply comment below.
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