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Dknglong

Double Bottom Confirmed on $DKNGI'm remaining bullish here for as long as the 13-day MA keeps climbing above the 21-day. Solid structure forming with a clear break from its previous neckline/resistance. "According to an article in the European Business Review, domestic sports betting revenue in the U.S. is projected to be valued at $7 billion by 2025… and it continued saying that, according to a report by Technavio, the global sports betting market size is expected to grow by $144.44 billion between 2020-2025." DraftKings is in a very strategic position to remain a key leader in this space as more and more states continue to legalize sports betting.
NASDAQ:DKNGLong
by ClargyInvesting
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.
NASDAQ:DKNG
by jUiCE_Trades
4
DKNG reclaim 60?DKNG 4HR Chart- DKNG had a nice falling wedge breakout with decent volume and a strong close above 58. With earnings approaching as a catalyst, we could see more upside. Would like to see price form higher lows with this current break of the downtrend. A break and hold above 60.50-61 level and we could see nice rally to February highs of 64.70-65. Keep gambling laws, other gambling stocks' news (sympathy plays), etc. on watch as potential catalysts to help boost the Donkey Kong to the moon. Recent news with mobile sports betting laws being passed in states has resulted in pump and dump situation, so keep that in mind as well as current market sentiment.
NASDAQ:DKNG
by jUiCE_Trades
1
DKNG back to 70+?DKNG 1HR CHART... After a strong sell off from reaching ATH, we seen some bullish momentum in the past 2 weeks with a strong close on Thursday. March Madness championship is Monday April 5th, so a potential catalyst to help this momentum continue. Expecting to see some bullish price action early this week and sell the news with sports activity decreasing. Possible catalysts to keep a look out for... gambling laws, partnerships, app features, etc. A safe entry would be on the break of 65 and a hold, to ride it back up and retest ATH. A Break Under 61 I would consider looking for a short opportunity to mid 50s depending on the overall market sentiment.
NASDAQ:DKNG
by jUiCE_Trades
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)
NASDAQ:DKNGLong
by jUiCE_Trades
13
$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+
NASDAQ:DKNG
by AndrewRoupas