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DKNG !! this is going to be BIG !new legislations are coming Draft king is a fairly new player on the market through a SPAC merger with Diamond Eagle acquisition corp, and it's an American sport betting operator and it even allows users to make bets on players' performances in all major sports. In the list of investors, we can find names like the legendary Michal Jordan who is acting as a board advisor for the company as well. So with new legislations coming in the Sports betting and iGaming field in the US, we expect great things from this stock, even though it is traded 360% higher than on March 20. Today they got a rise in target price by Goldman Sachs to 65$ along with Morgan Stanley while saying “the new legislation will pass in over 12 states and will bring an upside to the stock price and of course company revenue! The legislations are due for Friday in Michigan and potential stats to follow are New York, Texas, Massachusetts, Georgia, and Ohio, and we will update our group live once official news comes out. Let's look at Technicals: So usually I will divide my target price on a stock into 3 or more parts but in DKNG it’s a bit different. The volume readings are showing us a volume uprise to 60M in its highest high of 64$ at the beginning of Oct 2020, and the current volume readings are between 20 – 50 Million. Why is that out of the ordinary? usually when you look at a stock rallying up the volume will take off to a new high and then drop massively – this is not the case with DKNG – the volume stays very high with as low as 20M and high as 50M, which tells me the sentiment on this stock is still in its peak! and today after the Goldman and Sachs price upgrade the stock will rally up more! We cannot see the stock entering the 45 and below levels that will mean we are looking at a massive correction hence, it’s a red square on the chart that cannot be touched! what we see is the stock accumulation rising steady and safely – this is NOT a parabolic rise as the stock corrected and stabilized on its current price – this means you are trading a “safe” stock relatively speaking of course. We give DKNG a target price of 70$ as the first target and a target price of over 150$ by end of 2021… this may sound high but sports betting online services usually have BIG revenue and relatively low operating costs. We at FDGT are very bullish on the stock and we will keep updating our traders in the group about it Trade safe, and be safe!
NASDAQ:DKNGLong
by FDGT_academy
1
Draft Kings is a Monster - Long Live Sports BettingsDraft Kings I personally believe is worth double what it is now. However, sports not being played all that makes it scary for investors. With news on earnings today I think you see a big time change. I think it will consolidate in the corner forming an ascending triangle and breakout the top. If it doesn't I also marked put options where to enter and wher to check on the way down. Personally I am long not just on 30% rev earnings, but I love draft kings myself, their customer support, overall experience and its a money making machine with little overhead.
NASDAQ:DKNG
by DigitalData
14
Draft Kings seems like it has no endAfter looking at DKNGs chart it seems like the rally is JUST beginning. There seems to be a lot of support around the $17-$18 area so if it does drop again around that price snatch it up, FAST. Because this seems like a rocket that isn't going to stop anytime soon Looking at momentum MACD and Accelerator Oscillator, everything is looking extremely bullish. You can easily trade this pair if it keeps hitting low $20 Highs and $17 lows as the long term for this pair seems extremely bullish Market cap, it can easily grow into a 10x company in 5 years. Gambling/betting on e-sports, traditional sports, and rumors of gambling on basically anything that can be bet on, this is your play. Never bet against America gambling their own money to make more money. Look at Vegas. We will evolve into a more casual gambling society imo where vegas like plays can be made through DKNGs especially once they implement Crypto betting and possibly be legal in more than just 5 states. DKNGs is looking at nothing but potential upwards and in a few years it can easily be a trillion dollar company and the monopoly for online gambling on anything related to sports
NASDAQ:DKNGLong
by mandujanotony31