DKNG
DKNG looking to boom (my personal favorite)DKNG Daily Chart ....DKNG sitting in the middle of my channel, forming a bull flag and looking to see it bounce off $46.28 (.618 fib retrace ) and break out the bull flag up to $60 within these next few weeks. With sports entertainment starting up or for some, still going on strong, DKNG has potential to keep running up. Keep in mind any shut down of sports or significant increase in Covid cases could lead to DKNG dropping.
DKNG might reverse here DKNG followed my fib retracement zone, could bounce here and go up or bleed more. Leaning towards DKNG dropping more. If we drop below 49.30 i can see a move down to 46
DKNG 55 Update almost there, im selling some contracts and holding some, riding profits if you followed me on this play youre a beast
DKNG may boomI called this inverse H&S forming in my previous analysis, overall market is bearish so this may not happen but if voume picks up on $DKNG it may just do its own thing and take off my PT is still 55
DKNG update we broke the bull flag at new highs take profit if u are in and re enter or hold and ride it out
DraftKings Bulls Set to Rally - $DKNGNASDAQ:DKNG
Sports betting is continuing to gain traction and acceptance across the United States. With sports actually finding their way back on the field since the long COVID-19 break, you would have to HATE money to not look to get extremely long in this name.
From a technical standpoint, it is attempting yet again to breakout of that $26-$41 (two purple horizontal lines) range that PA has been stuck in since printing its last high back at the start of June. The orange box has historically been a strong supply zone, sending us back down to the bottom of the range after attempting to gain price acceptance above the horizontal purple line around $41 in June.
If we can get a couple daily bars to print and hold above the first diagonal dark purple line, I like this name to make a strong move to $65 in a relatively short period of time, which would be almost a +58% move from current price of $41.
Good Luck.
- PennyBags
Bullish Flag breakout for DKNG??It appears as though DKNG is breaking out of a bull flag, very interesting bullish cross on the KST.
The first green finger on the KST back in April is what we want to see happen again, not like the red finger icon in July which basically resulted in choppy trading.
Higher lows on the RSI and it's looking like a higher high is going to occur in the near term.
Overall a few bullish indicators, add to the fact Michael Jordan Joins DraftKings as a Special Advisor to the Board and there's sentiment for upside price action.
🏈 DKNG (8/31)-(9/11) 🏈 🏈 DKNG 🏈
Current Price @36.65
Bearish under 36.75
Breaking and holding under @36.25 and we'll pullback to @35's then @32's
Bullish over 37
Holding over @37 and I can see a retest @37.70 resistance before getting back into @38.50-39's again.
DKNG- Technicals show nice breakout -Long entryDKNG broke out of inverse head and shoulder pattern on 4hr. Recently even in bad quarter corona impacted quarter company generated more than estimated profit. I agree fundamentally it is not apple but entry is based on technical analysis. If works then it offers a great risk to reward ratio. I am not an expert on Elliot wave but I try to incorporate it in a very basic manner. Usually it works for me. Wave 5 begins here. If you measure wave 3 target can be about 60.00. I am happy to get 45 to 50 range. Lets hope it materializes. I like the pattern and will go long. Hoping the run to continue. Today was a nice day for a cheap entry as price retraced to the breakout line. This is just an opinion. Everyone must do their own homework before trading or investing in any financial assets.
DKNG ready to retrace after completing wave extensionDKNG has had a nice run up the last 3 days completing its wave 5 extension.
With RSI over extended its retracement point looks at about $36 at the 61.8 Fib
Stop is a close above today's high at $37.5
DKNG - 17.55% Potential Profit - Bullish PennantBullish Pennant formed out of a correction following a strong uptrend.
Target price set at new potential Resistance bounce.
- Historical Uptrend
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $37.37
Suggested Stop Loss $36.16
Target price $43.61
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
