DKNG
DKNG [LONG] DCAAdding here to DKNG after it dips further into my DCA zone, remain bullish longterm so building out a position here.
Price targets remain at $65 and $100 presenting good upside, and acceptable risk for me at these oversold levels - still some downside on the weekly indicators but daily looking good for a bounce in the short-medium term.
Will continue to DCA lower if it dips towards the 0.382 fib level around $35.
** NOT FINANCIAL ADVICE **
DIPS YOU HAVE TO WATCH - DKNG/PYPL/UPST/BIDU/NIO/ROKU/FIGSAll,
BE PATIENT. Let the market do it's thing and get conformation. There is ALOT of money to be made here if you are patient with call options. I see ROKU/PYPL as immediate buys once market turns around. UPST as well but not tons of support.
FIGS id watch every 30m this one is positive ER really undervalued here on serious support basically a wedge. I like FIGS if it holds or breaks below id watch that even more. FIGS whenever it fully stops I will probably take.
$DKNG back in Accumulation Zone. Room to $30DraftKings, after another terrible earnings, looks to be falling below the neckline of a bearish head and shoulders pattern. It looks like there is room to $30, where we will likely see it bounce a bit and need a good catalyst before it gets over $40 again.
Draftkings stooping to new lows. DKNGIronically, a picture almost identical to what Palantir had for us in the previous post.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
DKNG TAhey guys so now we will talk about DKNG, as you can see we’re trading inside a triangle since July 2020. What I love about this type of pattern especially now on DKNG it’s just how it acts flawless every time we touched the triangle we traded all the way up/down. So this ticker is respecting the trend lines, moreover every time we touch the lower trend line and the RMACD creates a bullish trigger we shoot all the way up. So yes I love the probabilities and definitely when the RMACD will create bullish trigger I’ll take the trade.
$DKNG GETTING READY FOR A +40% MOVE!What Is the Accumulation Area?
The accumulation area on a price and volume chart is characterized by mostly sideways stock price movement, which is seen by investors or technical analysts as indicative of large institutional investors buying, or accumulating, a large number of shares over time.
Source: www.investopedia.com
1HR
- Price trading sideways since late September.
Analyst Price Target on $DKNG (TipRanks)
High: 105
Average: 70.06 (44.01% Upside)
Low: 41
Draft KingsI might've gotten in too early here to be honest. However, I feel that draft kings has a lot of momentum with the variety of reach and marketability they have. The name is familiar and they continue to have good incentives and easy to use platform. I know their financials aren't the best but I consider this an emerging market even though some may disagree. I think as technology grows, so will the thirst of competitive gambling. I see a W pattern forming. As much as I want it to shoot up right now, I feel like the double bottom needs to truly form before a true move is made. I don't want a homerun here, I just want a base or two lol.
High-Quality levels on DraftKings.Today we will take the last year of price quotation and we will work on all the relevant levels we will e paying attention
a) The main aspect we can see are the exteriors support and resistance levels (these are our framework)
b) Inside our range, we can draw a trendline that may work as a relevant support level. From there, we can expect a bounce and the following correction (Trading Opportunity 1). As we are breakout traders, these corrections are what we are looking for before entering the market
c) If the price breaks the previously mentioned level, we will aim to see the price on the next support level (lower zone of our range) at 35USD. From there, we will expect the same sequence: bounce + the following correction.
d) Both trading opportunities will share the same target 64USD, however, it is important to mention the inner resistance level at 56.00 USD (there we should be open to possible corrections)
e) Final Idea: Remember, the best way of developing high-quality setups is by waiting for the price to reach high-quality zones. Working setups from there increase your odds of success
Thanks for reading!
DKNG trading plan with my boxes strategyHi everyone!
I've been following NASDAQ:DKNG price movement for a long time.
Today I will share my analysis with you.
This is a typical growth tech stock with a higher risk profile.
If you are ok to see your asset go up 5% and then lose 7% the next day, then you might consider trading this stock.
Quick intro:
Price is in the long-term rising channel.
Stock has been trading sideways for quite some time.
Wide price volatility range (40-74).
These stock characteristics are suitable for my boxes strategy.
Key current levels:
Strong demand level at 42, which would be now reachable only with a breach of a trend.
Same with 44,6 level.
Magnet level at 47,5.
Recent bounce at the 50,7 level.
Notable magnet zone at 56.
In summary, NASDAQ:DKNG is a hugely volatile stock, which creates massive opportunity for shorter-term swing trading.
Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise.