DKNG Showing Strength DKNG is at a possible Macro-Higher Low putting in a 4h pinbar with a small hourly flag. Will be a good stock to keep an eye on this week for potential buy opportunitites.
Dkngbuy
DKNG 1H BULLISH FLAGHere is a bull flag on the 1H timeframe and if you look closely there is also somewhat of an inverse head and shoulders forming signaling equilibrium between buyers and sellers. Expect imbalance next to either direction but according to the trend there is a higher change of a push to the upside once imbalance is created.
DKNG Inside Bar CALL side.Here is a 4h Inside bar on DKNG with a Macro trend line to support bullish bias. Be warned this trade can break below the inside bar and trigger a sell of creating another leg down. Watch for micro pull backs(5m-10m) after green level is broken for entry opportunities.
CAUTION: This trade CAN takeoff at open giving no pull back entry opportunity so do NOT let fomo give you an entry with no idea of R:R.
DKNG momentum reversal.Ugly H&S within an uptrend above weekly candle pattern breakout. Will be a nice swing opportunity and for paper handers, can be a 2 day hold for 100%+, trim at or near highs and leave runners after.
dkng bull flagLooking through some charts and noticed a bull flag forming in DKNG. Provided the overall market doesn't implode over the next couple days, I'm thinking it fights its way back up into the 16s not expecting it to break out of the flag formation but definitely possible/likely to test the top of the channel imo. Nice volume gap from here all the way up to the 16s area doesn't provide a ton of resistance. One issue I am seeing is the IV on the options contracts is very high. No position currently but will keep on watch and look to play it if the set-up stays the same. Not financial advice!
Watching DKNG for bounceAs you can see from the chart DKNG bounced at a strong support area that was established back in Feb 2020-April 2020. We can see a clear RSI divergence leading up to the bounce at support. We can also see there was a downside breakthrough of auto fib extension however it quickly retested and bounced from there. With these indicators occurring in unison with the emergence of the Draftkings sportsbook and casino in numerous states across the U.S I think it could be a good time to enter into a position. (RSI oversold and MACD crossover indications are very bullish on 1 week chart)
DKNGRequested by @RocketFuel20
Not financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
DKNG Ready For ReversalDKNG has been beat down waaay too much, the bottom has got to be near. Bullish Divergence on the MFI makes me believe this is primed to pop. Watching for a break of the falling channel before entering short term calls and LEAPS. Looking for $30-$32 in 1-2 weeks. Institutions own 62.5% of DKNG, up .58% from last quarter. Don't let the shorts fool you, great buying opportunity. This is one of my core positions along with SOFI & CHPT and I expect them all to make a swift move to the upside!
DKNGDraftkings Inc (NASDAQ:DKNG) The stock is bouncing after seeing weeks of strong downward movement. While DKNG's short-term trend seems to have reversed, a close above the pivot pocket 28.80 could lead to more relief and confirm the possible bottom. I think we could see more gains next week as the heavy volume of the last two days should attract some more bottom feeders. As I tweeted on Thursday I took a position around 24.5 and doubled it on the break of 25 looking for an initial target around 30.7 Lets see what Monday brings us.
DKNG posed to go higher?NASDAQ:DKNG has established itself as the top dog in US online sports betting. We may find an RSI Divergence pattern, as well Quant Chart's Inflection indicator signals for potential long. There may be a high chance of a swing higher.
DraftKings: Heading to the 70sLooks to have bottomed. Should hit 70s by New Years. 40%+ upside from current price
DKNG: Ready to run through football season One of the nicest setups out there right now. Won the battle at the volume shelf. Ascending triangle with advanced MACD breakout. Should steadily climb back up to retest ATH over the next couple months.
DKNG - bullish trendEntry point - 53.25 or break of trendline which is also where the 200day sma is.
Contract suggestion:
DKNG 7/16 55C @ 1.31
DKNG pump fueled by shorts?DKNG 4HR TF
Analysis
After a 15% correction within a two day span from Hindenburgs claims on black market dealings/ illegal gambling, Buyers took advantage of that dip as it rallied 11% intraday and is currently consolidating for more upside. Retraced nicely to the .618 of May lows and Junes current highs and potentially forming a nice channel with lots of upside to run. Some important things to annotate on this chart: DKNG broke a 3 month downtrend June 7th, failed as price retested that previous resistance but reclaimed and holding right above(green trendline). Also, massive volume spike coming in after the Hindenburg dip. Ideally would like to see a dip back to the 44-46 levels for a dip entry, however if we don't get that dip and price pushes pass 50.15 I'm seeing a push to 55 by eow.
Targets: 55, 61, 69
Trade ideas:
Buy calls atm/otm strikes, 2+ weeks out (44-46 buy zone) or breakout entry at 50.15 to 1st target.
DKING $65 Calls exp 4/30Entry: $60.50
Take Profit: $64.50
Stop Loss: $59.50
Validation:
- Rejected off Strong Support around $58
- Crossed above 8 EMA
- MACD about to cross up to green very soon
DKNG correction time?$DKNG update wave 3 of 3 target hit, could see a retrace to my .618 which fills that gap at 62, I can see one more push towards mid march once this correction is in, after this month not much sports activity going on but news with gambling (laws, app features, partnerships) can push this.
Short target: 60
Long Target: 75+ ($100 stock long term)
DKNG is it time to ride this train back to ATH?After a nice rally leading up to the Super Bowl it looks like this beast has settled down, not much sports betting activity besides NBA and March Madness which would be a big one. After that I feel the stock price will see some flat movement and run based on states passing betting laws. Also keep in mind we have ER approaching soon so that will cause a possible run up. DKNG is currently in a downtrend channel and is looking primed to break out soon. We also have a gap down so keep in mind this could potentially go for that gap fill at 55. The Safest entry would be to wait for the breakout of the resistance line with significant volume for a confirmed sign of reversal. Now depending on market sentiment, we could see more room to the downside, where you could get a nice dip entry (buy zone located in chart) to long.
Key Levels
Support: $58.86, $56.86, $55.14
Resistance: $60, $61.11, $62.46, $64.21
Ways to Play this:
1. Load Up Shares
2. Enter on breakout of downtrend resistance with month out calls
3. Buy on the dip if this goes for a gap fill
4. 2022 leaps
Option Ideas: low to high risk contracts (High OI and VOl, very liquid contracts so you can get filled easily)
60C 3/19 4.30
65C 3/19 2.57
60C 2/26 2.62
65C 2/26 1.05
60C 2/19 .57 (lotto)
62C 2/19 .21 (lotto)
$DKNG Bullish ProjectionAs we can see, Draftkings is finally waking up after months of healthy consolidation. Look for this stock to surge upwards in price in the near future, besides the profitability of the sports betting industry - here is my reasoning. Price testing at the final Fibonacci level the .236 (roughly $57.26 price level) shows this bullish divergence and once it breaks through this level we will see a jump. Furthermore, as we are on the daily looking at the RSI levels we can see two bullish confirmation signals in the two "W's" in RSI that I have pointed out - both further my reasoning for a bullish run upwards in Draftkings. Price target $65+
DKNG loading up for a trip to the Moon! 2HR DKNG bullish update - With sports betting activity increasing these upcoming months and legalization of mobile/ sports betting through out states, Im expecting a big move for DKNG soon. My in depth analysis on my previous ideas. Trading Idea annotated in the chart.
DKNG back to ATH again? DKNG if it can hold above 52.50 I'm looking at 57 short term and an overall move to retest to ATH. Last time we were at 63.91 we took a big hit due to pandemic pressure. Couple catalyst to keep this pushing, Super Bowl, NBA, March Madness, on top of states pushing to allow mobile betting. Wouldn't hurt to add here for a long term hold on option contracts that exp 2023 and shares. DKNG can easily become a 100$ stock in the next couple years.
Key Levels
Resistance / Support
53.48 50
55.68 48.02
59.40. 46.50
DKNG falling wedge breakoutIf Dkng can hold above 47 Im seeing a retest of 50, under 47 I'm seeing a bounce around 44.70 for an EW 1-2 setup. Under 44 its going down to my major wave 2 target at 42. Keep in mind we can see some blood today with the GA Senate runoff (market uncertainty). So scale in on these dips!
So much to look forward to this month expecting a minor sell off with 2021 leap exp 1/15 but NBA, NFL playoffs, College Football, Superbowl coming expecting a bullish push towards end of month
DKNG can see more blood but still Bullish Long term!DKNG still has more room to bleed under 45.81 I'm seeing 42, which would be an ideal entry to scale in long term positions! In an abcde correction so watch for a break out of the falling wedge to retest 49, clean break and hold above 49 i see an overall move back to 53
