Draft Kings still in Business.....Looking for a move back up to $36 and to $41 bull case..... needing some buyers to be interested draft kings is the issue
DKNG1 trade ideas
$DKNG - Is next price target 40$ to confirm the downtrend?$DKNG is giving plenty of signals implying the long term downtrend.
Should we wait for it to reach 40$ to confirm the downtrend?
And perhaps, wait for it to cross 75$ for upside reversal! Or at least exit the outer red curvature and hold above $50 for some considerable time!
Tough times!
DKNG $100 IDEA, if this trend can't hold, look for sub $40 Current trend and past trends are all leading to a similar point (sometime in Feb), plus we had a nice little drop on earnings which could have put this stock on a really good path up to $100.
People love to gamble, and DK is spending a lot of advertising.
Will it get there?? I'm not sure, however.. It's not crazy to think DK and Penn start to run again this month.
I've marked some important points to take note of on this current trend, including one on the 9th.
Is DKNG Still a Bad Bet?DKNG has still finished carving out a wave b, now forming a double top with a daily engulfing pattern. Probably because of news of new investment from ARK. The Elliott wave is still clear and we're targeting under $27 before resuming the main trend. We could go as low as the $16 area. Also, not pictured on this chart is RSI divergence confirming the 5th wave top. This analysis is also in conjunction with our broader market view.
head & shoulder pattern?looks like a head & shoulder pattern forming... should it breakout possibly it will become a downtrend..
$DKNG - Head & Shoulder break down 50% paidI was wrong to dismiss the possibility of H&S breaking down. The worst of my bear case came true with the price target $27.
Right now 50% of H&S breakdown has been paid. Stocks tends to reverse from 50% of the break target. So $27 area is critical area for the bulls.
Breaking below $27 will be really bad as the next potential support is around $21.
Bull case - Break above $38
Bear case - Break down below $27
My bet right now is a little consolidation followed by bullish reversal. Oscillators are not turning up yet.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
Technical analysis (DKNG)DraftKings, Inc. (DKNG)
Limit buy - 31,0$
Target - 45,00$
Risk/Reward Ratio - 3,77
Stop-loss - 27,30
$DKNG long V recoverySorry Jim Chanos, you're just dead wrong about this one. You might be right about WYNN tho.
Go long DKNG. Looking very attractive right here and appears to be forming another V recovery. The prior V recovery brought DKNG to its ATH of $74.38. This could send it to those levels for an initial test and then hopefully an eventual breakthrough.
(They usually don't break through prior resistance on the first try)
Draftkings launch into the NFT space partnered with the NFL right before the Superbowl should make for a very fruitful quarter.
lovely double bottom on Draft Kings!🦉this is one of my favorite patters to trade as a long, double bottom bounce off an extreme support with oversold RSI
great risk reward at these levels, with CPI numbers coming out tomorrow I'd wait until next week to take a starter position
like and follow for more 💘
DKNG Neckline BreakDescription
DKNG appears to have made a break in the neckline as well as a back test, and I will be entering a starter Long Put position.
For the larger time frame, refer to the idea I published here:
Technical Indicators:
Break in the neckline
Death Cross on 29OCT
Neckline rejection today
Good volume on the breakout
Using Long Puts
Long Put
Levels on Chart
SL is set as a break and hold above the ascending neckline.
Our eventual price target, as measured by the height of the "head", has us retracing the entire move that was made in 2020.
For an intermediate target, we will go with the support set in August of 20.
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/26 42P
R/R & Break-evens vary on fill.
Manage Risk
Only invest what you are willing to lose
LT Swing Position for Draft Kings Inc(DKNG)Currently, I see Draft Kings Inc( DKNG ), coming off a Head & Shoulder pattern on the 4hour, Daily and Weekly time frame. Before my further analysis, all the information will be accurate with each of these time frames. The Fibonacci levels I have marked have been respected by this chart. DKNG could be coming down into a supply zone within the ranges of $34.39-$30.75 and act as a potential support. This range could also be used to down cost average the position. If $30.75 is broken, the technical analysis is broken and the position exited. The fibonacci levels would be used for take-profit levels such as 0.786($42.87) for the first, 0.618($49.57) for the second, and so on. DKNG missed its previous earnings report(11/5/21) and could be priced in already. With the sport seasons having started, DKNG could likely react bullish on the charts with its next next earning report also being beat. As well, there have been rumors of companies such as Disney and others looking to purchase stakes in sports betting companies( Bullish for sector), with DKNG being a viable candidate and a likely one.
LT Swing Position DKNG (Shares, Possible option leaps)
Risk: 3.5/5, DKNG has yet to reverse or show any signs of reversal
*Trade with your own due diligence and discretion!*
DKNGMID-TERM: Breakout of downsloping channel, bottomed at a historical support, classic bullish divergence. (not financial advice)
DKNG Oversold?DKNG has suffered from massive selling. The stock fell from its highs of $65 in September, to about $50. It consolidated for a month in a parallel channel and then broke below. Measuring the downside move from the bearflag/ABC pattern places DKNG at current levels ($35). We are currently sitting at a support level that was created back in October/November of 2020. Additionally, RSI reads that we are overextended to the downside. The last time we had a reading this low was at the same support from Oct/Nov. DKNG bounced about 40% from those lows. If we begin to close above this steep downtrend channel that we are in, we could look for a retest of the 0.618 fib level which happens to be around $40.
draft King Long shot but still possible
After this stock has dramatically fall into bear market, mega hyper run, I do not expect to fall more, not with all sport gambling industry potential, a lot of noise about Some hedge funds shorting the stock, but the truth is that small caps was decimated, sin september, this offer tremendous potencially, im long stop 25 easily could get back to $41-$51 levels next year, is a risky bet but with a lot sport events the next year i think could even be back to all time high but i t will take time, as all investment, people get frustrated after losing but you never buy high points. i remember people trashing apple and nvdia and now the dont know how to cover their shorts. still think they could continue to growth into double digits next year.
Good time to get in30d reached but support not yet found. 100% parity reached too (A = C). Good time to start buying I guess.
Not a financial advice.
DKNG LONG DCALooking a great level for DKNG - green rsi/market cipher in the sweet spot/red money flow + positive divergences.
** NOT TRADING OR FINANCIAL ADVICE **
Bearish Long Term Head and Shoulders on DKNGDraft Kings looks to be breaking down under the neckline of a long term head and shoulders pattern. This is extremely bearish and suggests a target in the $15-$20 range based on the height of the head from the neckline. Possible retest of the neckline before the crash. If the neckline resistance holds, look out below. If DKNG can break through the neckline with confidence, the pattern and trade setup could be invalidated. I personally prefer to wait for the neckline test before entering a position.
DKNG - HIGHER WATCHLIST THAN ANY OTHER STOCK HERE All,
Put DKNG top of everything on your watchlist. HUGE demand area down here first long term retest. Confluence support trends downard that have popped 20-50%. I HIGHLY suggest watching DKNG over almost any stock in the next few weeks. I think DKNG once it bottoms here 3-6mo out will get you 200-300%. Just be patient or scale in in 30-32 range. Watch for options activity + big candles (hedges,insiders,tutes) buying in. I promise DKNG will return, sports will NOT stop due to COVID. Even Biden clearly said shutdown is not happening.
DKNG - SSHSS - time to get inClear SHS formation, on a longer track S S H S S is expected. if fibo level holds at 35$ which it hold for the last 3 days, we are good to go to 40-42$ which is 10%-15% uplift
DKNG $50+ EOYDKNG has been beaten down again...Looks like a head and shoulders pattern but it won't play out. Playing a call calendar spread at the $40 strike. Short call expiring 12/10, long call expiring 12/31 for a cost of $81 per contract. Easy money.
DraftKing possible perfect short setupOn high and higher highs was so mush good news for exit smart money i guess. So we broke main resistance, and now we are discovering for new bounce of price.
Red arrows will be perfect setup to go short. Watch for it and do not avoid S/L orders.
