DraftKings Inc.Long
DKNG Bullish... for a bit.
Updated
Price boxing up on the hourly, possible right shoulder forming a Head and Shoulder candlestick pattern. MFI shows a slightly higher low against falling prices as well. Possible short term bullish entry around 47.50 for me, where I've highlighted possible buying and selling areas based on Volume Profile. If I miss the entry then I'll go with the overall bearish entry around 54-55. With news turning sour it's hard to imagine an overall bullish position anywhere in this price range. This is all theoretical, of course.
Trade active
45.90 entry. Looking for a H&S neckline retest to around 50-51. Perfect scenario is neckline, POC to price, then reverse position for the longer term bearish position.
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.