DraftKing hits the upper trend line inside symmetrical triangle and unable to break out.
Right now investors are in wait and see mode apparent by the bottomming narrow channel. According to Stan Weinstein's Stage Analysis, this could be identified as stage 1 bottom.
Bulls are reluctant to jump in due to over hanging etain offer. However, there seems to be changing of hands gradually from bears to bull.
It could be possible that depending on etain offer, the stock either could see, a break down to $45 or break out to $60.
Target 1 -$60 (short term)
Target 2 - $90 (long term)
Break down - $45
Stop loss - $41
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
Right now investors are in wait and see mode apparent by the bottomming narrow channel. According to Stan Weinstein's Stage Analysis, this could be identified as stage 1 bottom.
Bulls are reluctant to jump in due to over hanging etain offer. However, there seems to be changing of hands gradually from bears to bull.
It could be possible that depending on etain offer, the stock either could see, a break down to $45 or break out to $60.
Target 1 -$60 (short term)
Target 2 - $90 (long term)
Break down - $45
Stop loss - $41
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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.