draftkings pullback we have a solid uptrend going on with Draftkings i would let it fall to 47-50 Fibonacci confluence levels for call options and or purchases of stock
DKNG1 trade ideas
$DKNG | WEEKLY WATCHLIST 9/20On track from last week's post. Anticipating we see a buy entry opportunity in mid-October. Waiting for this wave 4 pullback to finish and show signs of a complete reversal. Still keeping this on my watchlist and will continue to track!
Goodluck!
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.
Bearish on DRAFTKINGSHead & Shoulders pattern formed on the Monthly & Weekly timeframes. As long as price continues to respect this pattern/zone of demand then I'm going to be looking for price to drop at least 10-20% over the next few months.
DraftKings Is on the MoveSports-betting stock DraftKings doubled between last November and March. Now after a long pullback and consolidation, prices are trying to climb again.
This chart shows how DKNG made a small jump following a strong quarterly report and guidance hike on August 6. It initially hit resistance at the 200-day simple moving average (SMA), but proceeded to break out about two weeks later.
Second, notice the succession of higher lows since July 2020. This shows ongoing acceptance of continuously richer prices. The weekly chart also highlights the fast rebounds after the drops, revealing potentially eager buyers:
Third, the 50-day SMA has turned higher and is approaching the 200-day SMA: a looming “golden cross.” That could suggest DKNG’s longer-term trend is turning bullish again.
Finally, the recent jump may be followed by a deeper pullback before the buyers jump in again. Traders may want to watch the mid-August high around $54.70 or the June high around $56 as important levels.
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Some mixed messagesI do think DraftKings will be consolidating further. And in the short term drop.
On the weekly we have both negative and positive divergence. Although we also have a drop in volume. I think due to the overall fear in the market. There does not seem to be enough volume to break the right shoulder that appears to be forming in this H&S pattern.
Good luck to all traders and do your own DD. This is not trading advice.
$DKNG | WEEKLY WATCHLIST 9/13Last time I posted about DKNG, I said we would come up to hit the 161.8% extension and we hit that nearly perfectly last week. Looking for wave 4 pullback/consolidation to take place before pushing for a fifth wave higher. Pennant and path shown is just a guess-timate, please take it with a grain of salt. Let's see if this plays out!
DKNG ascending trianglesimple stuff, I'm sure you've all seen an ascending triangle before. Resistance is not super rigid and a slight downward slope, but support is super rigid. Price target is 65.54 by around September 20. Anyways, if you have any criticisms let me know, i am relatively new to posting. Have a great day guys!
DKNG: Head and Shoulders FormingSeeing a Head and Shoulder Forming on 1Day Chart. DKNG is testing the neckline and if it fails here, it would end up selling off back to $50s. However, if DKNG could break the neckline around $64-$65, this would be a breakout of head and shoulders and could be pushing the All Time Highs. Set an alert at $65 and keep monitoring the price action. Market sentiment is very important here.
2 USD WINDOWpossible play on the continuation for scalping
premarket High to first target is a 2 USD window
DKNG SCALP OR DAY TRADE - SHORT TERM CHANNEL PLAY BOTH SIDES!DKNG has a lot of price action on the bottom half of this channel.
Use 30 min time frame for entry and exit.
SHORT SIDE
Based on this, short term analysis, DKNG is at an uncomfortable level and will retrace down to bottom, at it's comfort zone.
Confirmation: stoch crossing below 80, and bearish candle.
EXTRA confirmation - Volume below 20 MA. As long as volume stays below 20 MA, trend bearish.
Or jump the gun, and hop in now.
Key level of support area is around 62.95 Watch for bounce or break. Break, next support is bottom of channel at 61.45.
LONG SIDE - Set STOCH OS to 40 instead of 20.
Wait for bounce on bottom of channel.
Confirmation = bullish candle and increasing volume over 20 MA.
Cross up 40 on stoch.
Play to upside of channel.
First area of resistance is middle line at 63 range.
DAY TRADE or Scalp - Moves pretty fast in this channel.
BOOM!!!!! $DKNG TARGET HIT 25.52% in 21 days 🏈BOOM!!!!! $DKNG TARGET HIT 25.52 in 21 days 🏈. I know I'm ready for football & Fantasy Football season 💃🏻
$DKNG break upSport season is coming. I'm in $61.95
Should have entered at the break of the inside bar. But good enough. Nice follow through
$DKNG gearing up for trend continuationDRAFTKINGS
---> Inside bar / hammer candle last Friday
---> Riding above 5-12 EMA cloud indicating strength of uptrend
---> Football season started
Breakout above: $61.77 - $62.3
PT 1: $69
PT 2: $72
PT 3: All time highs
DKNG Newbie Analysis [5 Sep 2021]Bullish but forsee retracement.
It might be in Wave 1 and entering Wave 2 retracement. There is a bearish rising flag forming too. Candles getting smaller as days go by.
Plan
Can consider enter the trade at 61, go short and have a tight stop loss :) but should be better to just wait and see and entry later on.
Everything can go wrong so long the counting for wave is wrong
Stop Loss
63
Price Target
- 53.51 (38.2% using Fib 60/43)
- 51.50 (50% using Fib 60/43)
- 49.50 (61.8% using Fib 60/43)
This is not financial advice.
Please be kind, I am really new and welcome constructive feedback:)
DKNg Daily wave updateDKNG above new volume shelf support. Well on its way to our 65 PT. Soon we likely reach wave 3 top so be smart about stops up here, hopefully we tag 65 this week
DKNG LONG IDEAWatching DKNG for a possible trend reversal once a breakthrough of 0.236 fib occurs at my price level of just over $48. A strong breakthrough would indicate a move out of a three-month downtrend which aligns with my indicators. MACD is curling upwards, and RSI is moving out of oversold territory lining up for a potential upwards move. It also held the lower trendline with significant strength on the 19th. Significant resistance levels include $50 and the 0.382 fib level of $53 at which I will likely take some profits.
My fundamental thoughts are bullish with the recent pullback being healthy for a move up to all time highs which will be 4400 for SPX and over 15000 for the Nasdaq. Covid delta fears have also somewhat subsided and seeing similar with inflation concerns as the US 10yr sinks to relative lows. I believe periods of anticipation of sustained reflation or tapering are likely to remain brief which will allow growth stocks to perform in the meantime. A strong combination of fundamentals and technicals makes this a solid play in my opinion.
DKNG to break trendlineIf DKNG can break an old resistance line to the upward the upcoming few days, I would expect a bullish run.
$DKNG - Forming ascending bullish pattern, watch for breakout$DKNG - Forming ascending bullish pattern, watch for breakout
DKNG - D :: Format W - bet the housePrice recovery ofter the return of games.
Target 1 at $63,73
Target 2 at $73,42
Format W - reversal movement type.
