Do Not Bet on DraftKings Just Yet!!!
I love this business model and concept. DraftKings has successfully brought in tons of sports fanatics turned customers. Sports betting is huge at a $150 billion dollar year industry that is becoming legalized step by step and state by state. No more will be the idea you have to go see a sport bookie at your local bar or driving all the way to the casino. This will be huge in the future and I only see them able to corner other markets as they become legal (poker, etc).
Now down to the chart and technicals. We have completed 5 waves, with divergence, and a broken channel trendline. The B wave has been completed rejecting the 0.618 area with a daily pin bar. The target is below $27 at Wave 4 and as deep as the $17 area. From there I'd recommend to buy and hold for years to come.
Now down to the chart and technicals. We have completed 5 waves, with divergence, and a broken channel trendline. The B wave has been completed rejecting the 0.618 area with a daily pin bar. The target is below $27 at Wave 4 and as deep as the $17 area. From there I'd recommend to buy and hold for years to come.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.