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Draftkings

DKNG Run up into Super Bowl & ERDraftkings has seen a lot of action with lots of sports fans betting on various games recently. With new announcements, like their recent proposition team-up with Bleacher Report for a Super Bowl LV deal and over 200 varieties of prop bets for the weekend. DKNG also announced they have had 4 consecutive months of $100 billion+ in revenue, which bodes well for the company going forward. The stock is picking up momentum, gaining lots of buying volume, with RSI on support. After trying to break out of the symmetrical triangle recently, DKNG looks prime to move into the 60s+ once again. PT1 62, PT2 ATH, PT3 71-77
NASDAQ:DKNGLong
by Samirp01
2
DKNG !! this is going to be BIG !new legislations are coming Draft king is a fairly new player on the market through a SPAC merger with Diamond Eagle acquisition corp, and it's an American sport betting operator and it even allows users to make bets on players' performances in all major sports. In the list of investors, we can find names like the legendary Michal Jordan who is acting as a board advisor for the company as well. So with new legislations coming in the Sports betting and iGaming field in the US, we expect great things from this stock, even though it is traded 360% higher than on March 20. Today they got a rise in target price by Goldman Sachs to 65$ 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
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
NASDAQ:DKNG
by jUiCE_Trades
1
DKNG Possible Long SetupDKNG Possible Long Setup Lockup period drops. Short sellers at roughly 7% Still up 150% since ipo merger Do your own DD Entry Buyzone= 43 - 40 Cost Average Down Zone = 32 - 35 1st Sell target = .618fib @53 2nd Sell target = .786fib@57.92 3rd target = ATH HODL targey = 1.618fib @82.29 ______________________________________________________ This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice. Good luck, happy trading and stay chill, 2degreez
NASDAQ:DKNGLong
by UnknownUnicorn7216011
An update on my DKNG call Originally I expected DKNG to hit and pass 50$ in a bullish sweep. That was the case but much quicker than I anticipated, and its pullback in the trading days after would turn 3,000+ to a fully closed out profit of 1,300. It never hurt anybody to take profits and I had closed out a fraction the day before it dropped so I guess thats the plus here. But where do we go from here? Now that markets are closed let's take a look at price action. Today we see it has plunged to 46.56 down 4.88%. From the looks at the decline it was clearly overvalued but who's to shame when you were right and got lucky with the timing? I had a stop loss and it told me I was wrong. The next level of support looks to be near 42 as a minor and 40$ as a major structural support defining a long-term trend. You can look to buy at these levels as an entry and immediately follow perhaps 39.49 as a stop loss. On the bears side is a fickle side for profit but nonetheless, before an initial drop there may be bulls near 44 and 45 to push it into its trend that it follows in a longer term ascending triangle. The overall thesis a bear would take is a put for 40$ near a 45$ if the price action supports it(I say this because option price will be determined by gamma, which predicts price trend)
NASDAQ:DKNG
by trevor4312