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DRAFTKINGS INCDRAFTKINGS INCDRAFTKINGS INC

DRAFTKINGS INC

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DKNG1 trade ideas

DKNG - LONG (1h)(1h timeframe) DETAILS: at the 1h timeframe the price is inside a tunnel. (we have a 3 touches on every line) after a strong breakout (big bullish candle with strong volume) the price did a retest back to the resistance line of the tunnel. we can see how the price tried to return back down and got affected well by a strong support area and the ema 200. the candle responded well to the area and the ema (we can see it from the big bullish candle that came also with a strong volume). I put a 3 strong areas (2 resistance area the upper ones and 1 support area the lower one) on the chart and we can see how every time that the price touched those areas it responded well. The current candle is bearish for now (closed as a spining top), waiting to see to where the price is headed.
NASDAQ:DKNGLong
by omeramran67
DraftKings (DKNG) Stock Shows Resilience Despite Mixed Q4 ResultDraftKings ( NASDAQ:DKNG ), the Boston-based sports betting and iGaming company, is making waves in the market once again, showing remarkable resilience in the face of mixed fourth-quarter results and a groundbreaking $750 million acquisition of Jackpocket, a leading lottery app in the U.S. Despite the initial market reaction, which saw NASDAQ:DKNG stock fluctuate after its Q4 earnings report, analysts are bullish on the company's long-term prospects. Here's why investors should pay attention to DraftKings' strategic moves and robust growth projections: Record Revenue and Growing User Base: Despite a slight miss on earnings estimates, DraftKings ( NASDAQ:DKNG ) reported record revenue of $1.23 billion for Q4, marking a 43% increase year-over-year. The company also saw a significant uptick in its Monthly Unique Players (MUPs), reaching an average of 3.5 million paying customers. This growth reflects DraftKings' successful expansion efforts and strong customer acquisition strategies. Expansion into New Markets: DraftKings ( NASDAQ:DKNG ) continues to expand its footprint across the United States, offering live mobile sports betting in 24 states and iGaming products in five states. With ongoing partnerships and agreements, including the recent launch in Vermont and a forthcoming operation in North Carolina in partnership with NASCAR, DraftKings ( NASDAQ:DKNG ) is well-positioned to capitalize on the growing legal sports betting market. Strategic Acquisition of Jackpocket: The announcement of DraftKings' acquisition of Jackpocket underscores the company's commitment to diversifying its offerings and tapping into new revenue streams. With the potential to drive significant incremental revenue in the coming years, this acquisition aligns with DraftKings' ( NASDAQ:DKNG ) growth strategy and strengthens its position in the competitive gaming industry. Partnerships for Continued Growth: DraftKings' ( NASDAQ:DKNG ) partnership with Barstool Sports, a prominent sports and pop culture media company, further solidifies its presence in the sports betting landscape. While financial terms were not disclosed, the collaboration is expected to enhance DraftKings' marketing efforts and customer engagement, providing additional avenues for revenue generation. Positive Price Momentum: Despite trading near the top of its 52-week range, DKNG stock continues to exhibit upward momentum, indicating investor confidence in the company's future prospects. With strong support levels and a favorable technical outlook, DraftKings ( NASDAQ:DKNG ) remains an attractive investment opportunity for those bullish on the gaming and sports betting sector. In conclusion, DraftKings' ( NASDAQ:DKNG ) recent performance and strategic initiatives demonstrate its resilience and potential for long-term growth. As the legal sports betting market continues to evolve and expand, DraftKings ( NASDAQ:DKNG ) is well-positioned to capitalize on emerging opportunities and deliver value to its shareholders.
NASDAQ:DKNG
by DEXWireNews
DraftKings Shows Resilience Amidst NFL WoesOverview DraftKings ( NASDAQ:DKNG ), the renowned sports betting company, recently unveiled its fourth-quarter results, showcasing a commendable 44% growth in revenue despite facing challenges from NFL outcomes that fell short of expectations. While the figures slightly missed Wall Street estimates, the company's CEO, Jason Robins, remains optimistic about DraftKings' ( NASDAQ:DKNG ) trajectory, citing robust customer experiences and strategic initiatives propelling their growth. Financial Performance Analysis In the wake of the NFL's unfavorable outcomes, DraftKings ( NASDAQ:DKNG ) saw a dip in performance, reflected in the reported losses per share of 10 cents compared to an expected profit of 8 cents. However, Robins attributed this setback to the inherent volatility of sports betting, emphasizing the cyclical nature of the industry where occasional downturns are inevitable. Despite the hurdles, DraftKings ( NASDAQ:DKNG ) demonstrated resilience by reporting a significant decrease in net losses, from $242.7 million to $44.6 million year-over-year. Losses per share also improved substantially, showcasing the company's ability to adapt and navigate through challenges effectively. User Engagement and Strategic Initiatives One of the key highlights of DraftKings' ( NASDAQ:DKNG ) performance was the impressive increase in monthly unique payers, soaring by 37% compared to the same period in the previous year. This surge in user engagement underscores the company's growing appeal among sports enthusiasts, solidifying its position as a leading player in the sports betting market. Moreover, DraftKings' ( NASDAQ:DKNG ) strategic moves further bolster its growth trajectory, evident in the recent announcement of plans to acquire the lottery app Jackpocket for approximately $750 million. Robins emphasized the strategic significance of this acquisition, highlighting Jackpocket's foothold in the lucrative lottery industry and its potential to tap into a vast audience base. Future Outlook and Expansion Plans Looking ahead, DraftKings ( NASDAQ:DKNG ) revised its fiscal year 2024 guidance, projecting a revenue range of $410 million to $510 million, up from the previous guidance of $350 million to $450 million. This upward revision reflects the company's confidence in its growth prospects and its ability to weather short-term challenges. In addition to its financial performance, DraftKings ( NASDAQ:DKNG ) continues to expand its market reach, recently launching its Sportsbook product in Maine and Vermont, bringing its total to 24 states allowing mobile sports betting. This expansion reflects DraftKings' commitment to providing innovative and accessible betting experiences to customers nationwide. Conclusion DraftKings' ( NASDAQ:DKNG ) fourth-quarter performance underscores its resilience amidst market fluctuations, with robust revenue growth and strategic initiatives driving its trajectory forward. As the company continues to innovate and expand its offerings, it remains well-positioned to capitalize on the evolving landscape of sports betting, cementing its status as a dominant player in the industry.
NASDAQ:DKNGLong
by DEXWireNews
Can DraftKings Overcome Key Technical Levels?Primary Chart : DraftKings Inc. Weekly Price Chart with Fibonacci Levels and Downward Trendline from All-Time Highs DraftKings Inc., an innovative sports-betting company, has been one of the hottest stocks of this week after it beat earnings expectations and raised revenue guidance. Many are likely chasing the stock's price here without any discipline whatsoever, being driven by fear of missing out and the possibility of untold gains from a former darling of growth investors. The magenta trendline on the primary chart, which is logarithmically scaled by the way, shows that the downtrend remains intact despite today's powerful rally. This downward trendline could be broken, by the way, if momentum is sustained by bullish seasonality and tailwinds into year end in a pre-election year. But a shorter-term down trendline has been decisively snapped with today's upside push, and this suggests near-term strength for DKNG. Supplementary Chart A And DKNG gapped above its key 50-day SMA today as well. Supplementary Chart B But this post does not recommend shorting or longing this stock; instead, its purpose is to analyze NASDAQ:DKNG and consider its current position in light of a severe bear market in 2021-2022 and a euphoric bull-market run in 2020-2021. With discipline, some trading profits might be made long or short given this stock's inherent volatility—the stock rose about 15% today and about 25% this week alone. But without risk management, this stock could easily obliterate anyone attempting to gather quick profits on a short-term to intermediate-term time frame. The stock is extended here after it gapped above key moving averages. It also has reached critical resistance at the .618 Fibonacci retracement after breaking above the 50% retracement on October 31, 2023. The .618 Fibonacci retracement lies at $34.25, a few cents above the high of the week and the day today. A bit of consolidation of today's move may provide traders with a bullish view into the new year (a time frame of about 2 months) a reason to buy the dip. But caution is warranted into 2024 and 2025—can technological innovation and earnings surprises be enough to sustain this stock? Your comments on this particular question are welcome. There may be room for some debate as macro headwinds cannot prevent rallies like the one seen in equity indices like SP:SPX and some growth stocks. But there is a decent likelihood that macro headwinds may work against DKNG as long as interest rates remain high and inflation does not disappear. The Federal Reserves funds rate is now at 5.25% to 5.50%, a 22-year high. And quick look at the TradingView's Financial overview shows that DKNG has not had positive net income yet. And its financial history is not that long yet: It was founded in 2011, and it has only been public since 2020. So despite the major earnings beat and positive guidance today, DKNG still lost $0.61 per share. Unprofitable growth stocks do not perform as well in high-rate environments. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
Editors' picks
NASDAQ:DKNG
by SquishTrade
24
DKNG 10/13/2023DKNG Price was in an uptrend from January '23 through July '23. It then started to move sideways between July '23 and September '23, forming lower highs into the trendline. The uptrend was finally broken in late September '23/early October '23. Now, the price finds itself at the resistance level of the previous uptrend and at the downtrend line created by the lower highs observed between July '23 and September '23. Additionally, there is an engulfing candlestick pattern in this area. This serves as my cue to enter a short trade. Entry: 29.37 Stoploss: 33.56, -14.27% Target: 20.78, +29.25%, 2.05 RR ratio
NASDAQ:DKNGShort
by rudcharts
78
DraftKings and Tums Take a Gamble on Super Bowl Advertising In a bold move that merges the worlds of sports betting, advertising, and consumer engagement, DraftKings ( NASDAQ:DKNG ) and Tums have joined forces to roll out an inventive free-to-play game, "Tums Prop Bites," just in time for Super Bowl LVIII. This collaborative effort not only reflects the evolving landscape of sports betting but also underlines the creative ways brands are capitalizing on major events to connect with their audiences. As the Super Bowl returns to Las Vegas for the first time in two decades, the stakes are higher than ever for brands seeking to make a memorable impact. The Game: Tums Prop Bites is not your typical sports betting game. Rather than focusing on the outcome of the game itself, the partnership invites consumers to test their knowledge of game-day food habits. Hosted on a designated microsite, participants can place bets on various details surrounding popular Super Bowl foods, such as predicting the number of pizzas delivered before halftime. The allure of a $10,000 prize pool adds an extra layer of excitement, ensuring heightened engagement as the game unfolds. Strategic Partnerships: Tums, in collaboration with GoPuff, sweetens the deal by offering a free 60-count bottle of Tums Chewy Bites to participants who visit the designated microsite at halftime. This not only aligns with the theme of the game but also cleverly positions Tums as the go-to solution for those indulging in greasy game day fare. The synergy between Tums and DraftKings ( provides a unique opportunity for both brands to tap into pop-culture hype while emphasizing the practical aspects of Tums as an antacid. Market Trends: Against the backdrop of the growing popularity of sports betting, this collaboration showcases how brands like Tums are strategically aligning themselves with industry leaders like DraftKings ( NASDAQ:DKNG ) to leverage the cultural phenomenon. The decision by DraftKings to forego Super Bowl advertising this year in favor of innovative partnerships underscores the shifting dynamics within the industry. Other players in the sports-betting space, such as BetMGM and FanDuel, are also making waves with their Super Bowl campaigns, indicating a fierce competition for consumer attention. Market Momentum: DraftKings' impressive climb to a new monthly high on 18th January, 2024 is more than a financial achievement; it's a manifestation of the market momentum and the platform's ability to capture and capitalize on the evolving trends in sports and gaming. Conclusion: As DraftKings ( NASDAQ:DKNG ) continues its upward trajectory in the stock market, the company's innovative partnership with Tums serves as a testament to its adaptability and willingness to explore unconventional marketing strategies. The Tums Prop Bites game not only engages consumers but also positions both brands as forward-thinking players in the evolving landscape of sports, entertainment, and advertising. As the Super Bowl approaches, all eyes will be on how this strategic collaboration unfolds, setting the stage for a memorable and interactive Super Bowl LVIII experience.
NASDAQ:DKNGLong
by DEXWireNews
2