overnighter option $DKNGif you believe in continuos uptrend of the market as well as openings and more allowing of sporting events, gambling as well as legalization of gambling + partnerships and news should be push it past any levels
DKNG1 trade ideas
DKNG reversalShould see an uptrend hopefully soon. Lower lows last week on DKNG. Its close to the new trend line. Would love to see it pop!
I love this company and will buy a lot at $ 45 levelsAfter the latest earnings report, I will be bullish for this stock, starting from the 40-45 levels
DKNG Bull Put SpreadDKNG Bull Put Spread
22% ROI, 8 DTE
Higher timeframe ascending trendline
Overall trend is sideways, testing 4h demand and potentially moving up into 1h supply
Aggressive buyers seem to step in on the trendline
Price moving down into higher timeframe demand zone
Last hourly 3 legs down had a potential middle leg with body gap down, could be EW 3 of 3 center
Last rally was a weak top into Apr 6
The top at 61 was a retest of structure exactly at a flip level
Next supply is at 62 at the gap fill, so if I get a rally into it quickly I should buy back the spread
If the rally is slow and takes time, then I will likely expire into Apr 23
54 sold strike is bhind the Mar 8 liquidity search low
DKNG Potential ReversalWatching DKNG for a potential reversal back to the upside off of support. If it happens looking at Calls for next week with TP being 58.5
$DKNG SITTIN ON THE GROUNDLETS GO
MAKE SPACS GREAT AGAIN
WATCH EM PUMP IT NOW AND WE SELL IT AT EARNINGS
DKNG 6 test breakdownDKNG has formed a head and shoulders pattern testing the neckline now 6 times. Its broken below its ascending line of support, and rested it today up to the 61 area but failed and closed red on the day at 59. Its underneath all its moving averages which is another bearish sign. I expect this to break the neckline and go to the next level of support in the 52-54 range.
DKING $65 Calls exp 4/30Entry: $60.50
Take Profit: $64.50
Stop Loss: $59.50
Validation:
- Rejected off Strong Support around $58
- Crossed above 8 EMA
- MACD about to cross up to green very soon
DKNG - Drop towards 35/40 possible before seeing any rallyDKNG - Not sure about the wave count for this rise but the fact it's so overlapping and contained within this channel makes me believe it's a corrective move rather than a Diagonal for exemple.
The bigger picture seems to suggest we're potentially in a wave 2B Flat, meaning we'll see one more push down to the noted Fib levels in impulsive fashion.
If this goes down in a corrective fashion though, we might see it turn into a Triangle or a complex correction.
DKNG possible WPossible W might form, wait for squeeze to turn dark red and vix fix to turn gray or go lower
DKNG could bounce hereWill play the reversal zones; playing calls for bounce from this zone to the one above
DKNG $56 PutsDraftkings had a major red day -8.00% today, which has it sitting at an old support level that it's touched over 4 times.
If DKNG manages to maintain below 58.30 today, we could get in for puts to $56
Next SL point is $56
DKNG coming off trendline supportComing off trendline support. Looking for a reversal play coming into the week.
DKNG Round downDKNG is looking like it is about to break ascending support and run down to the next layer of support around the 54 area. Its testing support for the sixth time and rounding down simultaneously as well as below all moving averages which will act as resistance.
Cup and HandlePossible stop below handle low or mid cup which is 49.55
DKNG is dancing on the handle but the handle has held as support so far.
Not a recommendation
DRAFTKINGS DKNG- LONGDRAFTKINGS has surpassed all time highs this am. and based upon my charts- we are finally taking a ride on the long side. Remember previous chart we had some false breakouts- now we have had time to consolidated and coil up to the long side- in perfect timing for March. Despite NCAA restrictions- we can still see a boom. I have as conservative target 80-81 dollars. Looks like we could be upward bound! Stay tuned!
Possible short term "Head and Shoulders" DraftKings Looking for a short term Call Options play, heavy volume on the 65$ calls expiring 4/19. I've been trading on Robinhood for maybe two years now. I'm no pro but I like it.
DKNG back to 70+?DKNG 1HR CHART...
After a strong sell off from reaching ATH, we seen some bullish momentum in the past 2 weeks with a strong close on Thursday. March Madness championship is Monday April 5th, so a potential catalyst to help this momentum continue. Expecting to see some bullish price action early this week and sell the news with sports activity decreasing. Possible catalysts to keep a look out for... gambling laws, partnerships, app features, etc. A safe entry would be on the break of 65 and a hold, to ride it back up and retest ATH. A Break Under 61 I would consider looking for a short opportunity to mid 50s depending on the overall market sentiment.
LONG OVER 64RSI is a touch high but this one is right near support with a recent momentum change. Theme play with short term MACD also looking pretty sweet. I am long over 64 for a quick momentum trade. Looking for weekly option with some volatility. Cutting play on back test failure or taking profits over 65!
Bullish on DKNG(This is not financial advice)
Hello everyone, today I have a TA on DKNG that I spent quite a bit of time on. Sorry this TA might be a little bit confusing and messy but there was a lot to go over and I will try my best to explain it all.
To start off the reason I am interested with this trade is because I can feel excitement building up in the entertainment are with stocks like FUBO, GMBL, U and of course DKNG. I am both bullish on DKNG long and short term and I see it either dropping to support at around $58 and bouncing to either new ATH's or old highs. I have my support shown with the rectangle box and the red channel it is within. DKNG has been within this upward red channel for months and I believe it will stay in this channel and bounce within it. I have also set up price targets that you could possibly take profits at on different resistance points as well as supports on your way up. I took out most of the Fib lines to make space but I left two that I think are pretty important in this case. On this Fib Retracement you could buy at the 0.5 if you wait for it to fall to there where there is the fib line and two supports and the pattern of the RSI combined with the hype building up around the stock again as people talk about it more and MLB starts. buying 58 area is very low risk and a very solid buy if it falls back there. Otherwise I set up two other good buy areas you can see on the chart. The MACD does signal for a buy next market open most likely but it could be wrong and fall to that safe support buy area. The 20 day EMA is bullish as well as the VWAP if you change the timeframe.
To conclude DKNG is a pretty volatile and active stock that I see being a great company long term and if I am right about my DD great short term as well. This stock would be a good day trade, scalp or swing trade. The only problem with a swing trade would be that in the current market swing trades are a little bit more dangerous. If you have any questions about this trade or the TA or disagree be sure to leave a comment. Thanks for checking out my idea if you like it be sure to thumbs up and follow.
Thank You!
- Vlaire
