DKNG flushed and then went dry LONG
Updated
DKNG is a solid large cap with great price action. Today it drained 5% and then put on the
stopper. Price reversed and stabilized in the afternoon session. The fall was to below the
second lower VWAP band in deep undervalued territory. I see this as a chance to pick up DNKG
at a 10-15% discount for a long trade. The dual time frame crossover of the faster line over
the slower line is reassuring bullish divergence enough for me to look for the best entry on
the lower time frame chart.
stopper. Price reversed and stabilized in the afternoon session. The fall was to below the
second lower VWAP band in deep undervalued territory. I see this as a chance to pick up DNKG
at a 10-15% discount for a long trade. The dual time frame crossover of the faster line over
the slower line is reassuring bullish divergence enough for me to look for the best entry on
the lower time frame chart.
Trade active
Trade taken today after a few days of capitulation.Note
Sideways for now more accumulation before a price move.Note
Price has moved up. Stop loss now above break-even. Now a risk free trade.Trade active
Round bottom recovery on the chart. First target is 40 below the mean anchoredVWAP.
Note
Friday afternoon dip buy to add to the position.
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