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DRAFTKINGS DRN

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D2KN34 trade ideas

DKNG ReversalCalled $DKNG for calls last week for a trend reversal which played out well with the Gap up due to positive news about their deal with the NFL. I am looking at $DKNG again for another reversal from its bearish movement at support. Currently there was rising bearish volume to end the week, so will be paying close attention if $DKNG holds support in the high 57 areas or breaks to the low 57 area like before. If a reversal does happen looking at a swing into next month
NASDAQ:DKNGLong
by J_Col35
DKNG Bull Put SpreadDKNG Bull Put Spread 22% ROI, 8 DTE Higher timeframe ascending trendline Overall trend is sideways, testing 4h demand and potentially moving up into 1h supply Aggressive buyers seem to step in on the trendline Price moving down into higher timeframe demand zone Last hourly 3 legs down had a potential middle leg with body gap down, could be EW 3 of 3 center Last rally was a weak top into Apr 6 The top at 61 was a retest of structure exactly at a flip level Next supply is at 62 at the gap fill, so if I get a rally into it quickly I should buy back the spread If the rally is slow and takes time, then I will likely expire into Apr 23 54 sold strike is bhind the Mar 8 liquidity search low
NASDAQ:DKNG
by claypuzzle
DKNG - Drop towards 35/40 possible before seeing any rallyDKNG - Not sure about the wave count for this rise but the fact it's so overlapping and contained within this channel makes me believe it's a corrective move rather than a Diagonal for exemple. The bigger picture seems to suggest we're potentially in a wave 2B Flat, meaning we'll see one more push down to the noted Fib levels in impulsive fashion. If this goes down in a corrective fashion though, we might see it turn into a Triangle or a complex correction.
NASDAQ:DKNGShort
by ElliottWaveBelgium
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