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DKNG

DKNG bullish tradeThis is my long DKNG trade (which I entered) I'm taking advantage of the big dip last week, I should have probably bought the stock yesterday but wanted to be on the safe side and watch the market and how the election rolled out. Earnings are coming up on the 13th & sports betting is once again gaining traction. with only 47% of float held by institutions I believe there's plenty of room for them to start loading up again. My short term projection (for the end of the month) is $58, although I believe this can maybe go above if everyone starts herding into it again. Why I like DKNG: - 0 debt on the balance sheet - Revenue growth rate YoY 42% - Capex growth 22% - Sector: outperform (my opinion) Projected to have 42 states legalize sports betting by 2025 Sports are coming back throughout 2021 and I believe the market will price this in sooner rather than later. In addition, I believe the NBA will soon start licensing their data for betting purposes, although they already have began doing so.
NASDAQ:DKNGLong
by RaftoO
DKNG DraftKings Reach Oversold StatusInvestors are beginning to get spooked out of their shares due to multiple factors: COVID-19 Positive Test Results in the NFL and PIPE Shares officially becoming unlocked. Shareholders are forgetting the Major Supporting Catalysts to this company: -Exclusive Deal with ESPN/Disney -Becoming an exclusive partner to multiple Professional Sports Teams and Leagues (NFL/MLB/PGA/NBA) -Disney holding a Major Stake I Highly Suggest you consider adding before this stock regains strength.
NASDAQ:DKNGLong
by AlexCutler247
1
DKNG - REVERSAL : Movement Ending Volume + Stoch DivergenceAfter -36% almost non-stop in 17 days, we are back in the zone with potential supports (and reasons for the drop to stop). Here is how we could look at a reversal : VOLUME : Since Oct 13th, went from very small volume to 3x volume size on the 20th (highest daily volume for DKNG, all-time), after which it dropped by half. This is a "movement-ending volume". The price got to a level of interest for buyers and they are stepping in; the sellers sold their positions and left the building. BULLISH HIDDEN DIVERGENCE : Between the low (price action and Stoch) of early September, and the new Stoch low, the price is at a higher level. This is a bullish hidden divergence, hinting towards bullish move. Stoch is at close to 0.00 also, "oversold". UPTREND : The uptrend started April 3rd 2020. It acted twice as support (mid-August and Early september). We are arriving at this trendline once more; which may again act as the support and send the stock upwards. FIBONACCI 0.618 : "Commonly strong" Fibonacci Support, which is at 41.56$. SUPPORT PIVOTS : 44.00$ (All Time High for a while, was the resistance to beat, once broken out of this zone it became parabolic), 41.00$ (highs pivots of end of August) (Note that the Average True Range is at 3.70$, meaning we can expect 3.70$ of volatility pas a targeted support line)
NASDAQ:DKNGLong
by butcher42