Get started

PENN

PENN - trade idea PENN is another stock being added to the SP500. short term looks like we can see a pull back. As can be seen the chart is all over the place but its been choppy the past few weeks. Im expecting some short term downside but the longer timelines show bullish sentiment in my opinion. I expect a pull back slightly this week with longer term upside, I would estimate that PENN will pull back to the 0.5 level (118.86) and then turning around to continue higher. Short term meaning one-two hour charts. Always do your own analysis prior to taking any trade this is for educational purposes and not investment advice.
NASDAQ:PENNShort
by skmcgee
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 and $PENN - Betting on BettingFor anyone who remembers the death spiral of March 2020 with $DKNG trading at $10.60 and $PENN trading as low as $3.75 you are either riding the wave or watching in wonder. Even with the impossible runs both have taken off their 2020 lows many debate where this “sports betting” trade will go? Some points of consideration: Size of Market Since the PASPA repeal in May 2018 approximately 50% of the U.S. has some form of legalized sports betting. This number is a little misleading as a state like New York is included even with the very limited access to betting markets through Tribal agreements. When you consider California from a strictly GDP perspective you are talking about an economy roughly the size of the U.K.. And when you look at California, Texas, New York and Florida which are all starting to lean into true legalization conversations you are talking about 36% of U.S. GDP in those four states alone. The other major component when trying to figure out total addressable market is the black or grey market for sports betting. The legalization of sports betting did not create a new market for sports bettors, it simply created access to one onshore in the U.S.. The debate for how big the black market is a fair one and only one part of it, the other is how long until it can be migrated onshore if at all. When looking at market caps and market share it is clear that the original assumptions of the market were too small and are a major reason for the sustained push higher in the gaming sector with $DKNG and $PENN clearly out performing. As new states come on it should make you reconsider the true size the market to better align price targets. Nielsen 2.0 Many debate the true value of both $DKNG and $PENN because those familiar with the sports betting industry understand that a sports book typically is a very low margin business (5-6%) that requires major expenses to acquire new customers with cost per acquisition being reported well over $1,000 per depositing player. If we take a step back and look at what a digital solution will offer operators we can begin to see the forest through the trees in how sports book and large gaming operators will be positioning themselves over the next 3-5 years. In one word, data. If we fast forward to 2025, who will know more about the sports fan than $DKNG and $PENN? Who will have access to mold and monetize the fan experience? When I was a kid I would watch Sportscenter on repeat. Today, these companies know every key stroke we make. The value of that data defines the true value of these companies in my opinion. Conclusion If you stop to consider both $DKNG or $PENN as marketing companies who are attracting players for other products like igaming or hospitality you can begin to see a true path to what I believe they are working towards. The recent M&A across the gaming and media space is a lesson in effective distribution. The momentum has been started with COVID and the March 2020 lows with digital channels becoming critical to future success. The sports betting trade continues to be bullish as it will lead to much more than a single bet. Remember, as the old time gamblers will tell you, “sports betting is only the thing that gets you the thing”. Author Scott San Emeterio CEO, BallStreet Trading - Hosting real-time markets on live sporting events. Real-Time Super Bowl Markets with Top 100 traders winning $20 each - Free to Play
Editors' picks
NASDAQ:DKNG
by playBallStreet
31
$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
DKNG split chart 4hr and WeeklyBullish. Let me just lead with that. I've played numerous calls over the last few months. Huge fan of the stock, the chart, and the company. So of course I am back ready for more calls. $DKNG follows $PENN a lot don't forget that. Right now I am watching: jAN 22 $55 WEEKLY CALL FEB 19 $60 CALL Most of my target calls I will not even think about until Thursday or Friday. On the top chart, the 4 hour, top resistance setting it at the $55.19. Bottom support should be around the low $44 area. The moving averages are packed very tightly - they appear to have flattened out and are trying to turn sideways. Bottom chart, I went with the weekly, because I wanted to show the volume trend over the life of the stock. Notice the peaks between Sept-Nov an the gradual cool down since then. Would like to see some of that range come back. $DKNG.
NASDAQ:DKNGLong
by BradWeber82
TSCRF - Score Media & Gaming - The Next Big Thing? HODL?TSCRF - Score Media & Gaming ____________________________________ Long Entry on Pullback to 1.87/1.62/1.43 Possible FOMO on volume & breakout Adding on Pullbacks near bottom of channel HODLing ______________________________________________________________________________________________________________________ This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form financial or trading advice. Good luck, happy trading and stay chill, 2degreez
TLong
by UnknownUnicorn7216011