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DRAFTKINGS INCDRAFTKINGS INCDRAFTKINGS INC

DRAFTKINGS INC

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DKNG1 trade ideas

Bullish Echo Tade for DKNG to $67I have a bullish setup that I call an echo trade. The entry signaled on Friday, I was late posting this chart, but so far the price was flat from my entry. I traded the setup with straight $65 APR calls and some $65/75 call debit spreads. The red flag / support zone is marked, a sustained move of price to this zone may indicate the trade setup is busted. I will re-evaluate if we get there. There is resistance at the 61.50 area that we were testing Friday and needs to be cleared. The target is 67 and the stretch goal is $69. These trades typically last 3-10 days (average of 5) and may last as long as 3-5 weeks. WARNING: DKNG earnings are reported to be 2/26 before the open. The echo trade pattern is a trend-pullback-continuation pattern.
NASDAQ:DKNGLong
by insane66
DKNG is it time to ride this train back to ATH?After a nice rally leading up to the Super Bowl it looks like this beast has settled down, not much sports betting activity besides NBA and March Madness which would be a big one. After that I feel the stock price will see some flat movement and run based on states passing betting laws. Also keep in mind we have ER approaching soon so that will cause a possible run up. DKNG is currently in a downtrend channel and is looking primed to break out soon. We also have a gap down so keep in mind this could potentially go for that gap fill at 55. The Safest entry would be to wait for the breakout of the resistance line with significant volume for a confirmed sign of reversal. Now depending on market sentiment, we could see more room to the downside, where you could get a nice dip entry (buy zone located in chart) to long. Key Levels Support: $58.86, $56.86, $55.14 Resistance: $60, $61.11, $62.46, $64.21 Ways to Play this: 1. Load Up Shares 2. Enter on breakout of downtrend resistance with month out calls 3. Buy on the dip if this goes for a gap fill 4. 2022 leaps Option Ideas: low to high risk contracts (High OI and VOl, very liquid contracts so you can get filled easily) 60C 3/19 4.30 65C 3/19 2.57 60C 2/26 2.62 65C 2/26 1.05 60C 2/19 .57 (lotto) 62C 2/19 .21 (lotto)
NASDAQ:DKNGLong
by jUiCE_Trades
13
Cup and HandleDKNG has broken long entry level then pulled back, experiencing a throwback. Support can be found at mid cup and handle low. Some use the last pivot low. 4 dojis and 1 spinning top on the handle. There is another doji beneath the handle and a couple of spinning tops. Doji candlesticks and spinning tops are abundant in the market and can be as plentiful as weeds in a garden. Sometimes best to look at several candles in a row verses focusing on one candle to get an idea of market sentiment. A true doji has no body to the candle and is just a straight line where close and open are equal. (+) There are numerous types of dojis, gravestone, dragonfly, long legged dojis etc. I would say the first 2 are true dojis and the second 2 are spinning tops because they have a small body. Spinning tops can represent indecision. The 2 spinning tops are followed by a fairly strong red candle that "engulf" the bodies of the 2 preceding candles, then a fairly strong green candle that opens and closes within the body of the preceding candle which some would call a bullish Harami. There are some fantastic books on candles and a lot of information online as well. Candle shadows (or wicks fr top shadows and tails for bottom shadows) can be important areas of support and resistance. If you see 3 tall wicks on candles very close together that reach the same (or close to the same) level, there is a good chance there is resistance there and price is struggling to break through it. Same with 2 or 3 tails that end at close to the same level can indicate support is lurking at that area. S and R levels were made to be broken or the market would be ranging all the time. There are some levels that are stronger than others. IE..an IPO, a new stock has not had a chance to form these levels and can be very difficult to trade. I discovered this the hard way )O: Bullish candle patterns work best in an uptrend or at the bottom of a downtrend serving as a reversal signal and bearish candlestick formations often work best in a downtrend or at the top of an uptrend serving as a possible term reversal signal. Reversal does not usually mean a total trend change and could only be a reversal up or down for a few days. In other words, candles do have meaning, but the trend they appear in and the total picture of price is important. Not a recommendation
NASDAQ:DKNGLong
by lauralea
5
Update on DKNG, tested previous high, good newsDKNG has contended with its previous high which bodes well for future performance. It's a very low probability event that any stock, commodity, or other financial assets break through a previous resistance without first contending with it. DKNG has carried on trend, and so far Cathie Woods hasn't picked a bad egg. Expect some legs on this trade, especially after earnings when the rest of the world realizes how attractive the prospects for this business and stock are.
NASDAQ:DKNGLong
by EBITDAtiger
5
DKNG daily viewi havent 'published an idea' in quite some time and figured would throw something together right quick. i am quite bullish on DKNG and taking look at daily chart on this pullback last few days, i am seeing couple of opportunities to add some shares potentially. Currently today, it has dropped below its 8d ema intraday and ideally would like to see a close above that level. We also have recent uptrend support around mid 58s. Next would be feb 2 low test of 58.39 (that was gap up on ARK invest purchases) If that should fail, horizontal support should be found in the 56-57 region.
NASDAQ:DKNGLong
by PMtrading20
1