DKNG potential play for this weekDkng is setting up nice for a bull run this week. In the weekly timeframe we have a nice reversel pattern. Above 50 we will be breaking out the flag for the run. Lets watch it closely. Follow me for more.
D2KN34 trade ideas
DKNG to $62+DKNG has recently entered back into its long term trendline support from July 2020...
As we see, Weekly demand held very strong in the low 40 range and was instantly bought back up to over 50, from here I think we may retest the breakout and continue upwards to 61-62 at the .618 fib. This of course all depends on if we can break this old supply zone that from Dec 2020.
Usually when I use supply and demand zones, I do not chart old ones as more than not, new zones will appear but in this case... this specific supply zone seems to have been very respected over the past year so that is why I kept it charted. The .382 fib happens to be right where the supply zone starts as well, so expect some consolidation and/or resistance when DKNG approaches this zone.
Overall, I am still bearish on the market as a whole but historically, June is a bullish month so I will be looking for some more stocks to go long on!
TDLR: 53c 6/18, 60c 7/16
PT1: 53.97
PT2: 57.70
PT3: 62.22
Happy Trading!
DKNG Potential ShortKeep eyes on this. SMI overvalued and is on downwards trend. could be awesome short if we see pullback in SPY.
DKNG Pontial play for next week. As you guys could see we were correcting for quite some time. We bounce off the 786 fib level. We will look to break out the flag and make a bull run to 55. Lets watch it closely.
Draft KingsPrevious high was broken.
Mac D is green (support)
RSI is oversold
I have price retracing previous high up to 61%
Sports getting back to. normal. I'm looking towards January on this option i just got into today.
$DKNG - reversal from H&S break down targetReversal from H&S breakdown target area. Could retest neck line area around $56.
Target 1 - 52.76
Target 2 - 56
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
DKNGLike this one long again. Chart is a little messy but it's going to stay that way until it makes a new leg up. MJ deal was announced when the stock price was around $35-40 - as long as that level holds, I wouldn't bet against this one.
buy this weakness in DKNGStanley Cup playoffs underway, NBA playoffs around the corner. Next earnings report should be stellar. Still like the long-term story and the growth prospects as more states open up gambling/gaming.
DKNG, POSSIBLE TRADE SETUP!Hello fellow traders and investors, here's a trade idea on DKNG.
DKNG has been selling off since it hit the first take-profit zone on the Fibonacci. I am watching for a break above the trendline for an ROI of around 78% to the second take profit of the Fibonacci but if it gets rejected again by the first one I will most likely close my position.
Technicals:
The Macd indicates that is still in a downtrend and oversold
The RSI is looking very oversold
When To Buy:
When it breaks above the trendline
When To Sell:
At the 1st or 2nd take profit area of the Fibonnaci.
Fundamentals: DraftKings, Inc. operates as a digital sports entertainment and gaming company. It operates through the B2C and B2B segments. The B2C segment focuses on providing users with DFS, Sportsbook, and iGaming products. the B2B segment develops, designs, and licenses f sports betting and casino gaming software for its sportsbook and casino gaming products. They have a P/S of 19.45, a debt/equity of 0.54, a sales growth Q/Q of 253%, an EPS growth Q/Q of -236%, an ROI of -32%, and a short float of 8%.
Rating: 50/100 the technicals look amazing however the fundamentals are sloppy which means if you are going to take a position make sure to use risk management and not risk a large amount of your capital.
I hope you enjoyed this quick analysis and many more to come.
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Bearish Rectangle patternThe stock forming a bearish rectangle pattern which means that DKNG may collapse again until the next support area after break $40. Risk/reward ratio is good!
$DKNG Bounce?Draftkings shares have fallen to an important fibonacci level that also happens to have a volume shelf. The MACD and RSI indicators also appear bullish. This suggests that we may see a bounce off of this level very soon. Good Luck!
DKNG Increasing their advertising budget to $44Million Obviously this industry is trying to get a running start on claiming a vacant spot since the pandemic. If the industry as a whole is multiplying their advertising budgets by 15X its not out of line to think that their overall profits will increase as well. Is double industry earnings year over year out of the question?
by iCantw84it
05.19.2021
Draftkings weekly long hold DKNGDKNG weekly looking to range $40-$48 range. I don’t see it going lower than $40 and if so we test $35-$37 before advancing back up. Looking to head back towards $60 in July, mid to end summer advancing back to all time high come fall.
$DKNG FOR PC, CYPHER PATTERN Hey guys, found this cypher in $DKNG, so many in ARK's holdings, The ultimate i over payed pattern (cypher) Doubt this fills but, oh man if it does it will bounce hard
see trigger, stop & 3 tp's, Lets see
