King Digital Entertainment plc, an interactive entertainment company,
develops and publishes casual games on Web and mobile platforms. The
company offers approximately 190 fun titles in over 200 countries
through its king.com and royalgames.com Websites; Facebook; and mobile
distribution platforms, such as the Apple App Store, Google Play Store,
and Amazon Appstore. King Digital Entertainment plc is based in Dublin,
Ireland.
Take a look at the 1-year chart of King Digital Entertainment PLC (NYSE: KING) below with my added notations:
Over the last 2 months KING created a key trendline of support (blue)
and that line is also the “neckline” support for the stock’s head and
shoulders (H&S) reversal pattern. Above the neckline you will notice
the H&S pattern itself (red). Confirmation of the H&S would
occur if KING breaks its trendline support.
The Tale of the Tape: KING has formed a head &
shoulders pattern. A long trade could be made at $15 with a stop placed
below that level, but ideally, the pattern implies a short trade to be
entered on a break below $15 instead.
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