DKNG1 trade ideas
DKNG Pontial play for next week. As you guys could see we were correcting for quite some time. We bounce off the 786 fib level. We will look to break out the flag and make a bull run to 55. Lets watch it closely.
Draft KingsPrevious high was broken.
Mac D is green (support)
RSI is oversold
I have price retracing previous high up to 61%
Sports getting back to. normal. I'm looking towards January on this option i just got into today.
$DKNG - reversal from H&S break down targetReversal from H&S breakdown target area. Could retest neck line area around $56.
Target 1 - 52.76
Target 2 - 56
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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.
DKNGLike this one long again. Chart is a little messy but it's going to stay that way until it makes a new leg up. MJ deal was announced when the stock price was around $35-40 - as long as that level holds, I wouldn't bet against this one.
buy this weakness in DKNGStanley Cup playoffs underway, NBA playoffs around the corner. Next earnings report should be stellar. Still like the long-term story and the growth prospects as more states open up gambling/gaming.
DKNG, POSSIBLE TRADE SETUP!Hello fellow traders and investors, here's a trade idea on DKNG.
DKNG has been selling off since it hit the first take-profit zone on the Fibonacci. I am watching for a break above the trendline for an ROI of around 78% to the second take profit of the Fibonacci but if it gets rejected again by the first one I will most likely close my position.
Technicals:
The Macd indicates that is still in a downtrend and oversold
The RSI is looking very oversold
When To Buy:
When it breaks above the trendline
When To Sell:
At the 1st or 2nd take profit area of the Fibonnaci.
Fundamentals: DraftKings, Inc. operates as a digital sports entertainment and gaming company. It operates through the B2C and B2B segments. The B2C segment focuses on providing users with DFS, Sportsbook, and iGaming products. the B2B segment develops, designs, and licenses f sports betting and casino gaming software for its sportsbook and casino gaming products. They have a P/S of 19.45, a debt/equity of 0.54, a sales growth Q/Q of 253%, an EPS growth Q/Q of -236%, an ROI of -32%, and a short float of 8%.
Rating: 50/100 the technicals look amazing however the fundamentals are sloppy which means if you are going to take a position make sure to use risk management and not risk a large amount of your capital.
I hope you enjoyed this quick analysis and many more to come.
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Bearish Rectangle patternThe stock forming a bearish rectangle pattern which means that DKNG may collapse again until the next support area after break $40. Risk/reward ratio is good!
$DKNG Bounce?Draftkings shares have fallen to an important fibonacci level that also happens to have a volume shelf. The MACD and RSI indicators also appear bullish. This suggests that we may see a bounce off of this level very soon. Good Luck!
DKNG Increasing their advertising budget to $44Million Obviously this industry is trying to get a running start on claiming a vacant spot since the pandemic. If the industry as a whole is multiplying their advertising budgets by 15X its not out of line to think that their overall profits will increase as well. Is double industry earnings year over year out of the question?
by iCantw84it
05.19.2021
Draftkings weekly long hold DKNGDKNG weekly looking to range $40-$48 range. I don’t see it going lower than $40 and if so we test $35-$37 before advancing back up. Looking to head back towards $60 in July, mid to end summer advancing back to all time high come fall.
$DKNG FOR PC, CYPHER PATTERN Hey guys, found this cypher in $DKNG, so many in ARK's holdings, The ultimate i over payed pattern (cypher) Doubt this fills but, oh man if it does it will bounce hard
see trigger, stop & 3 tp's, Lets see
DKNG - Looks good to accumulate now and till 57.Looks good to accumulate now and till 57.
Strong support zone 55 on closing basis.
Targets 64,67 and 71
$DKNG$DKNG
$45-46 initial break above with solid candle formation would be signal to enter trade
$47.5- 48.5 area where price could be held up or rejected if it rejects at first then holds add again on the break above 1/4 of intial size take at least 1/2 profits the calls will be up at least 50%
$53 - $54.5 area where im sure it wont break above espeically with it on a downtrend hence the downtrending trend line which you should be watching if it breaks above both areas where price could be rejected
DKNGDKNG
I would advise against purchasing currently, this looks like a bounce. I see no double bottom or confirmation that the low is in.
There is only convergence between the chart and the indicators. We want a clear divergence to show sellers are exhausted before we place our order. It fails at the red line resistance i put in the green box. It is regarding previous support as resistance. Which can imply more downside.
Be patient and set an alarm on bot the resistance, and the new candle bottom low.
