Get started

Sportsbetting

Update on DKNG trade: near target, on trend, bullish indicatorsDKNG traded up in the parallel channel and nearly hit the projected target. Based on the TTM squeeze indicator it looks like it is just building strength to take off. MACD signals buy as well. Fundamentals: They just beat on revenue on their latest earnings. They continue to grow paying-customers. More states are legalizing giving it a tailwind. This stock could trade to CHWY levels easily. Entry point: Below $65 Price Target: $100 Stop Loss: $50
NASDAQ:DKNGLong
by EBITDAtiger
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
Update on DKNG, tested previous high, good newsDKNG has contended with its previous high which bodes well for future performance. It's a very low probability event that any stock, commodity, or other financial assets break through a previous resistance without first contending with it. DKNG has carried on trend, and so far Cathie Woods hasn't picked a bad egg. Expect some legs on this trade, especially after earnings when the rest of the world realizes how attractive the prospects for this business and stock are.
NASDAQ:DKNGLong
by EBITDAtiger
5
Ark just added DKNG; go longArk just added DKNG to its ARKK fund which is extremely popular in terms of inflows and performance. This should create a floor for DKNG to really start to build up its share price. With the support, DKNG should head towards $80 a share. Earnings are right around the corner and this quarter is like their holiday season; the Superbowl, the largest sports betting event of the year. They are going to knock the cover off the ball. Expect a lot of options activity around that time which should help to provide a slight gamma squeeze. Fundamentally, they are beginning to penetrate new markets and take share from the black market as more states legalize. It's truly all downhill from here from Draftkings. Best pureplay on Sportsbetting/Sportsbooks. If Ark and Cathy Woods a.k.a. the "Money Tree" are throwing their weight and reputations behind DKNG, I would NOT hesitate to follow. Buy under: $65 Midpoint to sell half: $80. Long-term price target: $100.
NASDAQ:DKNGLong
by EBITDAtiger
5
$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 $20 each - Free to Play
Editors' picks
NASDAQ:DKNG
by playBallStreet
31
DKNG !! this is going to be BIG !new legislations are coming Draft king is a fairly new player on the market through a SPAC merger with Diamond Eagle acquisition corp, and it's an American sport betting operator and it even allows users to make bets on players' performances in all major sports. In the list of investors, we can find names like the legendary Michal Jordan who is acting as a board advisor for the company as well. So with new legislations coming in the Sports betting and iGaming field in the US, we expect great things from this stock, even though it is traded 360% higher than on March 20. Today they got a rise in target price by Goldman Sachs to 65$ 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 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
NASDAQ:DKNG
by jUiCE_Trades
4
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
Great online sports betting play : Pointsbet ASX:PBHPointsbet ASX:PBH had a great year in 2020. Its share price has gone from 4.47 -> 11.87 in just one year. Back in March when the pandemic was first breaking out globally, its share price has once tumbled to $1, as everyone thought there would be no sport matches and people would have less money to gamble. There were indeed much less “games” during 2020, however the company strategy of expanding into the US has yield beautifully as the US market was relaxing their restriction on online sport bettings…and would be even more so in 2021. Was 2020 presenting the best sentiment for Pointsbet to operate? - Absolutely NOT. Will 2021 be a much better year for Pointsbet? - ABSOLUTELY! Especially with the vaccine coming in most of the developed country, sports games would start to return to normal, the opportunity ahead for PBH would only be much more compared to that in 2020. ON technical side, PBH stock price had a huge jump in August when their partnership with CNBC was announced. Its trading range has been contracting ever since, forming at least 4 textbook style VCP from Sep to Dec with shrinking trade volume, not to mention a huge wedge sharp has been formed and all the MA lines are now consolidating at around $12 range waiting for the next catalyst to breakout. I am seeing an excellent risk reward ratio with investing into PBH, taking its 100MA as cut lost and looking for huge upside to challenge its 52 week high at >$15 range within the next 3 months. disclaimer : currently having a position in PBH and will be holding for at least another 6 months.
ASX:PBHLong
by Squishybrain
2
DKNG time to boom! DKNG has been consolidating for about 2 weeks now, gave it a shot last week but with market sentiment being very uncertain now we have some certainty restored. Vaccines have been approved which is great for sports so we should see DKNG get a nice boost. Now we just need positive stimulus news and market will pump. resistance: 50.91, 52, 53.71, 54.83 support: 49.06, 47.70, 47 My plan: safe: 50C, 55C (12/24 - 1/15) lotto: 55C, 60C (12/18) (high oi and vol with these contracts) *keep in mind lottos are very high risk, set stop loss or let it ride out and secure profits whenever you want!
NASDAQ:DKNG
by jUiCE_Trades
DKNGLooking at the chart for the past two days several ideas came up to me: With the support level being retested at 47 instead of 45 it has bullish sentiment and after the most recent analyst calls they have absolutely affected price as can be seen 9/24, 11/20 & 12/7. 12/8 we see a Doji.....What if you had an idea to buy a stock but didn't like the current price so set a buy order at the lower support? After Friday's open & close we first saw a breakout then closed aftermarket higher. Theory: Sports-betting will continue to be legalized, which is part of this hype. No analyst is going to change what the market has to say about the fact people are bullish in the stupidest bull trend we've seen. Because so many people are already bullish and only 3 of maybe 20 analysts are bearish people will pump this to the sky again. Maybe not to 60 but this support had some time to fall to 40 and the price action has shot up several days in a row after opening in the red. I have calls set for 1/8 at 52$ looking to begin to cut the positions at 48.50
NASDAQ:DKNGLong
by trevor4312
Do Not Bet on DraftKings Just Yet!!!I love this business model and concept. DraftKings has successfully brought in tons of sports fanatics turned customers. Sports betting is huge at a $150 billion dollar year industry that is becoming legalized step by step and state by state. No more will be the idea you have to go see a sport bookie at your local bar or driving all the way to the casino. This will be huge in the future and I only see them able to corner other markets as they become legal (poker, etc). Now down to the chart and technicals. We have completed 5 waves, with divergence, and a broken channel trendline. The B wave has been completed rejecting the 0.618 area with a daily pin bar. The target is below $27 at Wave 4 and as deep as the $17 area. From there I'd recommend to buy and hold for years to come.
NASDAQ:DKNGShort
by adriel.arrasmith
15