DKNG, POSSIBLE TRADE SETUP!

Hello fellow traders and investors, here's a trade idea on DKNG.
DKNG has been selling off since it hit the first take-profit zone on the Fibonacci. I am watching for a break above the trendline for an ROI of around 78% to the second take profit of the Fibonacci but if it gets rejected again by the first one I will most likely close my position.

Technicals:
The Macd indicates that is still in a downtrend and oversold
The RSI is looking very oversold

When To Buy:
When it breaks above the trendline

When To Sell:
At the 1st or 2nd take profit area of the Fibonnaci.

Fundamentals: DraftKings, Inc. operates as a digital sports entertainment and gaming company. It operates through the B2C and B2B segments. The B2C segment focuses on providing users with DFS, Sportsbook, and iGaming products. the B2B segment develops, designs, and licenses f sports betting and casino gaming software for its sportsbook and casino gaming products. They have a P/S of 19.45, a debt/equity of 0.54, a sales growth Q/Q of 253%, an EPS growth Q/Q of -236%, an ROI of -32%, and a short float of 8%.


Rating: 50/100 the technicals look amazing however the fundamentals are sloppy which means if you are going to take a position make sure to use risk management and not risk a large amount of your capital.

I hope you enjoyed this quick analysis and many more to come.
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