D2KN34 trade ideas
Buy Zone and Targets for Draftkings $DKNGMy Updated Buy Zone and Targets for $DKNG
(Not financial advice)
$DKNG Draftkings Inc Bullish Above $45.00
Monday seen a 7% reversal in DKNG after hitting the Fibonacci Golden pocket.
No long entry until the 50ma and the June Pivot point is crossed above $45.00.
Stochastic is trying to bottom and cross.
Volume spiked today as buyers stepped in.
DKNG - REVERSAL : Movement Ending Volume + Stoch DivergenceAfter -36% almost non-stop in 17 days, we are back in the zone with potential supports (and reasons for the drop to stop). Here is how we could look at a reversal :
VOLUME : Since Oct 13th, went from very small volume to 3x volume size on the 20th (highest daily volume for DKNG, all-time), after which it dropped by half. This is a "movement-ending volume". The price got to a level of interest for buyers and they are stepping in; the sellers sold their positions and left the building.
BULLISH HIDDEN DIVERGENCE : Between the low (price action and Stoch) of early September, and the new Stoch low, the price is at a higher level. This is a bullish hidden divergence, hinting towards bullish move. Stoch is at close to 0.00 also, "oversold".
UPTREND : The uptrend started April 3rd 2020. It acted twice as support (mid-August and Early september). We are arriving at this trendline once more; which may again act as the support and send the stock upwards.
FIBONACCI 0.618 : "Commonly strong" Fibonacci Support, which is at 41.56$.
SUPPORT PIVOTS : 44.00$ (All Time High for a while, was the resistance to beat, once broken out of this zone it became parabolic), 41.00$ (highs pivots of end of August)
(Note that the Average True Range is at 3.70$, meaning we can expect 3.70$ of volatility pas a targeted support line)
DKNG on watchPull back entry on DKNG as it comes into the .618 and trendline + structure confluence.
Important to wait for lower time frame reversal patterns on these. I like to scale entry as well.
Dotted lines are targets.
$DKNG Ready For Rebound$DKNG imminent bounce ahead.
Sitting on lots of support right here.
First PT: $44.7
Then watch possible PT2: $54.5
DKNG Long Have begun buying DKNG for a long hold.
Love this company.
Cmon where is all the bitcoin money gonna go ;)
DKNG Is forming a falling wedge. Here, the $DKNG 2 hour chart is forming a falling wedge. This is a very bullish trend so the wedge has a high change of going up once broken.
Blue Arrow: If the candles break the resistance of the falling wedge, enter your position there. (This is also the safest buying point).
White Arrow: If you enter your position at the blue arrow, this will be a great place to put your stop loss to help maximize risk-management.
Long DKNG. Found Support and will Gap Fill near 55Title says it, long term trend has been solid support. Will hold until gap is filled near $55 to $56
DRAFTKINGS - Inverse Adam and Eve - at supportkeeping watch - near term covid sports headline risk - mid-term I am bullish.
Relative strength in Draft Kings as it revisits a key zoneI just updated the post below explaining the importance of finding stocks with relative strength in market weakness (click the chart and scroll all the way down for the update). DKNG is a stock I've kept my eye on all day today and initiated long positions at 42.50, 43.3, and 43.70.
This is my last analysis on DKNG:
DKNG Long SwingDKNG on macro channel low and holding daily ichimoku cloud support, 60% upside 4% stop loss risk.
Chiko span (green lagging span) crossed sept 15 price action today, as well as a bullish conversion/base line cross (blue/red), both signaling a reversal.
10/14 share sale likely fully priced in now, given no further bad news I am expecting a run up to earnings on Nov 12.
T1 - $52
T2 - $63 (ath)
DKNG Retest w/RemountDKNG had previously broken out of the 44 level and raced higher over the next several weeks after it broke that level. It has now retraced completely all the way back to that previous breakout level. It has also remounted w/a doji hammer which shows reversal signals. I believe this is a good entry now that it has retested and remounted over 44.
$DKNG - PT $27.5$DKNG head and shoulders short idea to 27.5 - waiting for final rejection at 46.5 for entry
DKNG breaking out from downtrendDKNG long wick on day candle shows very strong support, power run on the 1m chart in power hour.
DKNG gap coincides w/ fib retracement 0.618. this is a great setup if we break out from trendline tmr.
DraftKings best entry price 10 Oct 2020Healthy uptrend with 40% retracement with a bullish pin bar and heavy buying volume entry signal. It is a good buy and hold stock.
