Short term and long term trade ideaDKNG is sitting at the support and there is a short term and long term trade possible.
DKNG1 trade ideas
DKNG on trend lineShould see a bounce from here.
I'm in January calls for this.
Invalidated if the trend line breaks to the downside.
$DKNG would like to see it move towards 70 and above$DKNG has again defended the support line from May 21 and bounced well from it, the move towards 70+ is now confirmed. #PlanYourTrades
DKNG at SupportGreat Opportunity from support on the daily.
Seeing some rejection off strong support.
Has great R:R however reports ER soon.
DKNG 10/25 Analysis Approaching Weekly .786 Fib Retracement Level & Bottom Of The Wedge. Potential Pick Up Zone Between 45- 42
DKNG strong resistance trendline with low volume node supportThe $43-$46 is clear S/R zone through the last one and a half years.
1st target: $55, this was a clear zone of resistance 5 times last calendar year.
2nd target: $60, second huge resistance area
Invalidation: price <$44
Stock is very volatile so I recommend a play via Dec calls
Mama Cathie sold DKNGHey,
this is my first analysis and I'm not a native speaker so please bear with me.
Cathie Wood sold after she bought a bit higher.
Massive downward momentum in price after going sidewards for one month.
I see more downside here, long term support already violated. Next upcoming violation is base of Head and Shoulders.
Fibonacci targets TP1: 43.35$ (6%) TP1: 37.55$ (18%)
Stop loss: 48.20$ (a bit over the bottom of previous sideward move)
The growth is closeThe paper is in a narrow channel for a long time. 47,7 -51,2. I assume a long scenario, the paper is not allowed down. In case of fixing above the resistance level, the scenario with the target - $65 is realized.
There is global resistance there. If it is broken through, the ATX is possible.
Watch closely, there could be pullbacks. You can exit the trade with a stop loss if it goes above the 61
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Triple bottom formed around POCDKNG has formed a triple bottom right around the POC. This could be a good swing trade with a stop loss at 47. Targets are 51, 53, 56, 60 and 64.
Option idea: DKNG 21Jan22 50 call @ ~ $4.35 , SL = 30%, TP = 50%.
Long $DKNG - I may be little early but it looks juicyDKNG earnings are on Nov 5th and chart setups look pretty nice going into earnings. I may be little too early to start a trade, but don't want to miss it for few bucks.
$DKNG - Stan Weinstein's Stage Analysis + Symmetrical triangleDraftKing hits the upper trend line inside symmetrical triangle and unable to break out.
Right now investors are in wait and see mode apparent by the bottomming narrow channel. According to Stan Weinstein's Stage Analysis, this could be identified as stage 1 bottom.
Bulls are reluctant to jump in due to over hanging etain offer. However, there seems to be changing of hands gradually from bears to bull.
It could be possible that depending on etain offer, the stock either could see, a break down to $45 or break out to $60.
Target 1 -$60 (short term)
Target 2 - $90 (long term)
Break down - $45
Stop loss - $41
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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.
$DKNG GETTING READY FOR A +40% MOVE!What Is the Accumulation Area?
The accumulation area on a price and volume chart is characterized by mostly sideways stock price movement, which is seen by investors or technical analysts as indicative of large institutional investors buying, or accumulating, a large number of shares over time.
Source: www.investopedia.com
1HR
- Price trading sideways since late September.
Analyst Price Target on $DKNG (TipRanks)
High: 105
Average: 70.06 (44.01% Upside)
Low: 41
Draft KingsI might've gotten in too early here to be honest. However, I feel that draft kings has a lot of momentum with the variety of reach and marketability they have. The name is familiar and they continue to have good incentives and easy to use platform. I know their financials aren't the best but I consider this an emerging market even though some may disagree. I think as technology grows, so will the thirst of competitive gambling. I see a W pattern forming. As much as I want it to shoot up right now, I feel like the double bottom needs to truly form before a true move is made. I don't want a homerun here, I just want a base or two lol.
$DKNG - Daily forming triple bottom, calls > 49 | Puts < 47.5$DKNG - Daily forming triple bottom, calls > 49 | Puts < 47.5
$DKNG bullish idea
DKNG is an online sports betting book who as of today announced they entered a Blockchain agreement with Polygon. Polygon is an Ethereum-based scaling platform, to support custom NFT drops along with secondary-market transactions.
The deal provides DraftKings Marketplace with a scalable, eco-friendly blockchain solution that enables added throughput and expanded capabilities.
Sports Betting has become widely popular this quarter due to Social Media outlets whom glorify the big rewards with small risk bets such as multiple leg parlay bets. Not to mention NFL and MLB season on full throttle this quarter. Earnings should be stellar.
As for the technical side of $DKNG, it has been basing at these current lows and not finding any sellers under these levels. Seems like a good risk to reward spot to position yourself bullish.
Daniel Betancourt
OptionsSwing Analyst
$DKNG Weekly Opened 48/47P credit spreads on DKNG for December. Approaching demand zone and looking for the bulls to step in these coming weeks similar to mid july's price action.
DKNGIn my opinion, DKNG is ahead of a nice bullish setup technically and fundamentally. We can see how RSI is looking to break its oversold zone while MACD creates a nice-up movement with a pleasant crossing. Moreover, the MA shows a favorable structure due to a chart crossing over the 20 MA, which also identified an upward trend.
As to our fundamental segment, it appears that the gambling sector is on the move, and let's remember that DKNG is waiting for NBA, NFL sessions to start, and people are willing to play some fantasy sport.
DKNG 6 tap breakdownDKNG had a complete sell off after showing strength and a buy up this morning. Its a bull trap and closed red on the day leaving a long sell off wick above the moving average. Looks like this moving average will act as short term resistance now. The 48 level has been tested 5 times and it looks as though its heading for a 6th, looking to see a breakdown to the 45 range.
DKNG ConsolidatingI will be keeping a close eye on DKNG as it consolidates at this level. Both the MACD and the RSI have been beat up and are at a good level for a bullish run in the future. When those start recovering, be on the lookout for a possible trade.
DKNG holding the trendPerhaps a good time to get in after the crazy 25% dip from mid September and 35% down from ATH. Stock is definitely consolidating and holding the trend line on daily and weekly.
Head and shoulders set upDkng providing a clean head and shoulders pattern, if we could break below $47 i think that will confirm the pattern.
$DKNG Long. Targets On Chart Trendline is possible area of consolidation instead of resistance but that is pending on how market performs in the weeks ahead.
Targets for DKNG draftkings inc. are on the chart. Just press play ▶
Not trading options? Obvious stop-loss is just below last weeks low
These thoughts are my own ideas based off my own analysis. Please do your own research before putting your own money into the markets.
