Finding Bottoms Using Monthly Inside Candles: DKNG
Now, let's take a look at DKNG.
One of my highest conviction trades this year in January.
In this case, we traded within its March '20 monthly inside range.
pbs.twimg.com/media/F1FTGHsXoAI2ZIU?format=png&name=4096x4096
DKNG
We zoom in to see not only did the monthly inside low hold, but we have a massive bull flag breakout.
Add the fact that Massachusetts had an inevitable sports betting approval coming, this became a no brainer A+ setup.
Given at $13-$14.
pbs.twimg.com/media/F1FTR4eWcAIwtUp?format=jpg&name=4096x4096
We capitalized on
DKNG, then rolling it up to a 3/17 22.5c with our target of what?
The March '20 monthly inside resistance of $19.50.
We sold near the top of its first wave into $21, now providing a 50%+ move on underlying since adding to WL in January.
pbs.twimg.com/media/F1FTbTxX0AM6s3m?format=jpg&name=4096x4096
After a pullback,DKNG reclaimed the breakout of its March '20 inside range $19.50, providing another massive move into $30+ (+50%).
From the time of my WL add in January, this has now provided over 110% upside.
See how breaks of monthly inside ranges provide large moves?
pbs.twimg.com/media/F1FTkLHWYAEZ7L5?format=png&name=4096x4096
One of my highest conviction trades this year in January.
In this case, we traded within its March '20 monthly inside range.
pbs.twimg.com/media/F1FTGHsXoAI2ZIU?format=png&name=4096x4096
DKNG
We zoom in to see not only did the monthly inside low hold, but we have a massive bull flag breakout.
Add the fact that Massachusetts had an inevitable sports betting approval coming, this became a no brainer A+ setup.
Given at $13-$14.
pbs.twimg.com/media/F1FTR4eWcAIwtUp?format=jpg&name=4096x4096
We capitalized on
DKNG, then rolling it up to a 3/17 22.5c with our target of what?The March '20 monthly inside resistance of $19.50.
We sold near the top of its first wave into $21, now providing a 50%+ move on underlying since adding to WL in January.
pbs.twimg.com/media/F1FTbTxX0AM6s3m?format=jpg&name=4096x4096
After a pullback,
DKNG reclaimed the breakout of its March '20 inside range $19.50, providing another massive move into $30+ (+50%).From the time of my WL add in January, this has now provided over 110% upside.
See how breaks of monthly inside ranges provide large moves?
pbs.twimg.com/media/F1FTkLHWYAEZ7L5?format=png&name=4096x4096
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