DDE Cup and Handle
Dover Downs has been on in a long term down trend since 2006, where it peaked around $20. Currently it appears that DDE is set for a short term run.
We have highlighted the cup and handle pattern, which is a strong indicator of a upside rally. The second key indicator for this trade is that DDE is close to closing above its 200 day moving average.
Based on the peak to trough of the cup, it is reasonable to expect approximately a 34% rise from the current market price. This is a risky trade due to the long term down trend. So trade it with caution.