Flamingo (FLM) / USDSimilar setup to DIA trade of recent, an easy 30% move to the upside and will probably happen soon. The inverse head and shoulders embedded in the classic ‘W’ shape formation we see in price action on the above 1-day chart during a consolidation period is one of my favorite risk / reward plays. Very little downside risk from here.
In addition to the price action pattern, RSI is 50+ with higher lows in Stochastic RSI. Furthermore price action confirms support on the 21-day moving average (where breakout is written).
