D2KN34 trade ideas
DKNG not quite out of the woods yet, short term analysisDraftKings is not quite out of the woods yet to take on a LONG position. The stock did bounce nicely off a consistent trend line which has seen multiple reactions as well as coinciding with the 100 day moving average (SMA) and a Fibonacci retracement level, meaning the area does act as a STRONG support level. Momentum indicator (MACD) is showing a slow down in the Bearish momentum. We may consider a potential options swing trade playing the support bounce up to the next resistance area which is the 50 day moving average (SMA) at 44.5. The weekly OCT30 expiration 45 strike calls have good volume (20k) and open interest (OI 14k) for 1.00 premium. We are expecting a test of the 44-45 area before a retest of the trend line support before an upward continuation.
DKNG more bloodDKNG next support is near 35-36 we could see more bloodshed this week with covid cases and negative stimulus talk, If DKNG can hold above 40 we will see a strong move up but volume is low, under 20 day ema, i wouldn't play calls for short term. perfect opportunity to add shares or play puts!
$DKNG👋🏾
With the FANG stocks fully in pullback mode, I'm expecting the broader market to follow Apple, Google, Facebook, and Tesla lead and correct new huge move up from the March low. I will slowly start getting back in between the $31 and 26$
DKNG run up to earnings. LONG positionWe got nice support and a bullish divergence on lower timeframes.
Any criticism or tips welcome!
Stocks to watch on Monday #2I tried to collect the causes for going long/short on DKNG.
Whatever you decide, please watch the signs and cut the losses if the other scenario plays out.
I burned myself so many times not closing the trade, however, there was a very clear sign for it.
Trade safe and check my other ideas!
$DKNG Daily MACD Curling back up! I've been buying $DKNG for the last week now. Support was held very well, we bounced a few times off the long term trendline all last week. Staying bullish on this one and averaging down further if it hits the 200dma. #Bullish
ABC BullishDKNG seems to be giving it all she can to hang in there..It is looking like she may
DKNG looked very bearish for a while
NV is trying to perk up but is low right now
Not to long entry level yet for this pattern as of today
Possible stop below 40.4 (so close by)
Not a recommendation
DKNG LongGot beaten down heavily with bad news for last weeks. Retest of 40.40 level with strong rejection. Bullish indicators on daily. Created a new trendline.
Entry: validation of trendline, bullflag and break above 45.81.
PT: 50.23
$DKNG It's Gotta Reverse NowThis looks like a strong reversal coming, look at the RSI ... blue line crossing red
Look at the SMA/EMA lines..., looks like a curl up coming
DKNG reversalExpecting DKNG to reach a target of 64.19 by mid November. More conservative around 58.
DKNG continue moving upDKNG recently broke a major resistance and fell right back down. It seems to have hit a continuation of a previous trendline. I'm hoping it'll bounce and go back up.
I'm planning on entering at $42.80.
A lot of analysts think this is a good buy at the moment.
10/26 DKNG earnings and longMy previous chart was spot on. (Link is below)
Looks like it bottomed at $40 and returned to its channel.
Fibs are key points to break a candle over.
I believe we will hit around $49-$50 for earnings(Nov 12) and then head back down to $44-$45.
Q2 earnings were horrible so be prepared for the pullback the day before the report.
$DKNG READY TO BLAST OFF Currently DKNG in a double discount zone.
Credit spreads here would be ideal
Calls with targets
Betting on Draftkings : Oversold+signs of recovery $DKNGFA,
- Market cap : 16BN. Global TAM : 70BN
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- Currently in 7 states(12% of US population). 19 states with mobile legislation while ,majority are still being considered
- iGaming CAGR New Jersey (2014-2018)- 25%
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- Michael Jordan as special advisor. GOAT
- Habits picked up from Covid lockdown
TA,
- RSI oversold. 36. Rising up
- Closed above downtrend on 4H
- Short interest 23%
Entry: 43
PT1:50.5
SL: 40.2 (6.5% max loss)
Short term Swing
Risks,
- High volume during pullback
- Hasn't closed above downtrend on daily
DKNG LONGDKNG long entry on the break of the falling wedge structure. Daily time frame printed a bullish hammer candle on the 100 moving average which is also confluent with a previous support level and .707 Fibonacci retracement level.
Stop Loss: Daily close below 40.43
Target 1: 40.36
Target 2: 52.13
Target 3: 56.78 (gap fill)
DKNG LONG dip buy here DKNG holding above support good price here to add for long term portfolio. At the bottom of my channel with lots of upside room for it to run up. Keep in mind if any sports(NFL, MLB, etc.) were to cancel there season it will drop, but sports betting will always be around! Shares long term and 2022-2023 exp leaps will print for options.
$DKNG potential reversal Ticker: $DKNG Daily
- Today I took a long position on $DKNG looking for a potential reversal
- Strong daily close, holding both the point of control and trend support
- Watching for a break of falling trend
- Confluent resistance around 46. Targeting that then 49.50
DKNG - It's a great time to bet on DraftkingsDraftkings has been practically in free fall mode over the past 3-4 weeks due to profit taking and dilution. Today's daily closing candle was a hammer which typically precedes a trend reversal. We have confluence because this also occurred on the trendline. Buyers stepped in to defend the uptrend at a key level. I am personally going long here with a stop $40.23 just below today low. I am targeting the 50% fibonacci retracement level which is around $52.
