Possible short term "Head and Shoulders" DraftKings Looking for a short term Call Options play, heavy volume on the 65$ calls expiring 4/19. I've been trading on Robinhood for maybe two years now. I'm no pro but I like it.
D2KN34 trade ideas
DKNG back to 70+?DKNG 1HR CHART...
After a strong sell off from reaching ATH, we seen some bullish momentum in the past 2 weeks with a strong close on Thursday. March Madness championship is Monday April 5th, so a potential catalyst to help this momentum continue. Expecting to see some bullish price action early this week and sell the news with sports activity decreasing. Possible catalysts to keep a look out for... gambling laws, partnerships, app features, etc. A safe entry would be on the break of 65 and a hold, to ride it back up and retest ATH. A Break Under 61 I would consider looking for a short opportunity to mid 50s depending on the overall market sentiment.
LONG OVER 64RSI is a touch high but this one is right near support with a recent momentum change. Theme play with short term MACD also looking pretty sweet. I am long over 64 for a quick momentum trade. Looking for weekly option with some volatility. Cutting play on back test failure or taking profits over 65!
Bullish on DKNG(This is not financial advice)
Hello everyone, today I have a TA on DKNG that I spent quite a bit of time on. Sorry this TA might be a little bit confusing and messy but there was a lot to go over and I will try my best to explain it all.
To start off the reason I am interested with this trade is because I can feel excitement building up in the entertainment are with stocks like FUBO, GMBL, U and of course DKNG. I am both bullish on DKNG long and short term and I see it either dropping to support at around $58 and bouncing to either new ATH's or old highs. I have my support shown with the rectangle box and the red channel it is within. DKNG has been within this upward red channel for months and I believe it will stay in this channel and bounce within it. I have also set up price targets that you could possibly take profits at on different resistance points as well as supports on your way up. I took out most of the Fib lines to make space but I left two that I think are pretty important in this case. On this Fib Retracement you could buy at the 0.5 if you wait for it to fall to there where there is the fib line and two supports and the pattern of the RSI combined with the hype building up around the stock again as people talk about it more and MLB starts. buying 58 area is very low risk and a very solid buy if it falls back there. Otherwise I set up two other good buy areas you can see on the chart. The MACD does signal for a buy next market open most likely but it could be wrong and fall to that safe support buy area. The 20 day EMA is bullish as well as the VWAP if you change the timeframe.
To conclude DKNG is a pretty volatile and active stock that I see being a great company long term and if I am right about my DD great short term as well. This stock would be a good day trade, scalp or swing trade. The only problem with a swing trade would be that in the current market swing trades are a little bit more dangerous. If you have any questions about this trade or the TA or disagree be sure to leave a comment. Thanks for checking out my idea if you like it be sure to thumbs up and follow.
Thank You!
- Vlaire
DKNG RIPDid not notice how much this thing has been pulling back, wow. Doesn't look like it'll be reversing yet.
DKNG Channel UpMACD, RSI, and channel all point to bullish run upcoming. Target $75 or when MACD & RSI become oversold.
DKNG $$ buy opportunityThere is a clear trend in terms of DKNG dips.
I would suggest waiting for the price to hit $60, then load up.
Same goes with a $56.50 dip. I believe that there is immense potential for growth, both in the short and long term.
I believe that this will break record highs before the end of may.
Expect to see DKNG in the 70s before the end of April.
Dumb value. BUY BUY BUY. (not liable for losses, this is not trading advice, simply my opinion)
Draft Kings is in a Very Strong Chanel Looks even better on the 1 hr chart. Those channel lines are good spots to add more/double down.
BUY $DKNG DKNG near buy range here, on fib, bullish with sports picking back up, abit of a re opening play/march madness
Potential Breakout coming soon for DKNGDKNG is in a nice megaphone pattern since the beginning of 2021, recently we have been making higher lows and consolidating in the 67-72 range. If we can maintain this consolidation i think we could see a breakout to the top of the megaphone PT 79 with a high PT of 81.
The trade that i have outlined has a risk to reward of 5.4 and a stop loss on the break of the green support zone that would signify a probable drop to the bottom of the megaphone.
Is it just me or does DKNG look like a no-brainer right now?I've had decent luck on weekly calls with them, but they're coming into a peak season with earnings looking likely to be positive. Mostly, the chart looks great IMO. Would love to hear anyone's input.
DKNG formed C&H and is approaching highs DKNG formed the handle and retraced around the 61.80% fib level as I thought.
We are near highs and if we can hold this level I expect us to move to $76.91 and then $83.82.
Current Price: $71.98
Support: $65, 68.70, $70
Resistance: $72.60
DKNG + March Madness + Stimulus$DKNG + March Madness + Stimulus #tradeidea
We are knocking on the resistance. Once $74 breaks with volume, look for confirmation to go long
Draftking Ascending TriangleMarch madness + New price upgrades has pushed this stock over 20% this month so far
Resistance is around the 72-74$ area.
I'd consider a pattern breakout and entry over 74$.
White lines are overall range it's been trading in.
Yellow line is recent support area trendline that compliments the Ascending pattern but even that trendline doesn't hold and it falls back to the mid 60$ range you can still see the pattern with the white lines.
Greenlines are targets fibonacci
$DKNG Wave Theory Projection Update - Onto Wave 3 (Target: $87)$DKNG Wave Theory. Wave 2 hit as projected, other indicators are looking good
