DKNG1 trade ideas
$DKNG - Very constructive look here!DKNG needs to reclaim $57.77. Then it targets $64.19 and then $82.22.
I believe this will be a $100+ stock in 2021.
DKNG - December 20, 2020DraftKings is leader in the online betting space, and has seen upside analyst revisions on the revenue side. This is likely due to the increased likelihood that DKNG will become legalized in more US states over the coming months as an additional source of revenue for states. The trailing 12 months of revenue for DNKG is $551 million, and analysts are expecting this to more than double to $1.2B by 2022.
DKNG to go bearishDKNG entered consolidation in an upwards trend obviously leaving it in an upwards trend, you could see DKNG hitting resistance Monday and potentially going into a bearish market.
As always traders this is just my opinion and in no way financial advice, always do your own research before buying a stock. If you have any questions or comments don't be shy and talk to me in the comment section!
$DKNG DraftKings Back to ATH
Stock cleared the Fib resistance yesterday ,
Alert set for break above Gap fill @ $55.80
Potential targets as per resistances on chart.
RSi is strong uptrend.
MACD crossed bullishly
Histogram positive
Volume bullish
Head and Shoulders on DKNG with final correction waveHead and Shoulders on DKNG leading into final correction wave.
DKNG on watchAlert set at 54. Like it long above box to the fib targets above 786 and 886. Risk is a close below the box.. If the stock pulls back I like and entry closer to the bottom of the box.
All trades posted need broad market/sector support so watch the indexes while you trade. ie do not enter if the broader market is selling off or coming into significant resistance.
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Happy Trading!
DKNGWeekly V bottom still in tact. Would love to see a weekly close above $56. Weekly MACD crossing up as of now, we'll see if it holds. Weekly close above $56 and it wouldn't surprise me in the littlest bit to see $64 next week on good volume.
a couple way this plays outcould get rejected right here at trendline resistance and pull back to lows or it can breaks and make a push towards a new ath. im surprised this isnt at ath when penn is.. they usually run side by side. anyways goodluck :)
"DKNG Long" Bullish will this be able to push to $60+ $DKNGNASDAQ:DKNG $DKNG intersting levels would love to see this break that 54.66 are so we can push into that 55 resistance then I feel the fun will begin and room to 60+ on this one but that breakout anf hold is a must to get this next leg higher
$DKNG - Bullish Trade Set upInverse Head and Shoulders, gap to fill above, break of 1D downtrend, what's not to love.
Currently in DKNG 55C 12/24 @ 1.15
DKNG finally pushing nxt stop 55DKNG to 55 fomo will kick in and i can see 61 next week, if you got in my calls i mentioned should be up 300-400% on the 55c lottos and 90% on 12/24 contracts, congratz dkng fam
$DKNG Big Head and ShouldersThere's a pretty good Head & Shoulders on the Daily/Weekly for $DKNG. The right shoulder is surprisingly similar in structure to the left shoulder.. a peak, trough, then lower high. Neckline is a little bit dirty, but then again its COVID so not a lot of us are shaving regularly :)
Today saw a nice spike which MAY be the real move (news that they are launching gift cards for the holidays), or it may be a fake out- which is what I am hoping for. Either way this will be making big move shortly. My hopes is we end the day with a big upper wick/shadow and start TODAY.
The expectation would be a drop below the lower Bollinger Band and ride it down there mostly like a diagonal escalator, as seen previously. $40 is a nice price to hope for.
Options
IV30 Percent Rank is 10% today. Very low and subdued. Meanwhile term structure saw some signs of the beginning of Backwardation- in other words, the nearest expirations 12/18, 12/24 saw an increase in IV, while the mid-terms remained the same and the far-terms actually declined some. What this means is that the tail is starting to wag.
So how do we play this from an options viewpoint?
Long Puts
Vertical Puts
Long Straddles/Strangles or Debit Iron Butterflies/Condors
The 1/15/21 and 2/19/21 expirations have decent option chains, with Earnings expected to be about 2/11/21.
If IV rises significantly and you are strictly long puts, you have a great opportunity if this does make a significant move down as the shares are already Hard To Borrow. On stocks that are HTB if there's enough pressure they can run out of available shares to short or have such outrageous borrowing fees that the premium on Puts grows very high.
Though there isn't much to be gained from selling calls for credits- IV is so low, I have opened some Bear Credit Spreads to offset the cost of Bear Debit Spreads. Theoretically speaking, you're offsetting your loss if this stocks..does nothing. If it moves sideways, the loss on the debit of the Puts are largely reduced.
Good luck and happy trading.
DKNG time to boom! DKNG has been consolidating for about 2 weeks now, gave it a shot last week but with market sentiment being very uncertain now we have some certainty restored. Vaccines have been approved which is great for sports so we should see DKNG get a nice boost. Now we just need positive stimulus news and market will pump.
resistance: 50.91, 52, 53.71, 54.83
support: 49.06, 47.70, 47
My plan:
safe: 50C, 55C (12/24 - 1/15)
lotto: 55C, 60C (12/18) (high oi and vol with these contracts)
*keep in mind lottos are very high risk, set stop loss or let it ride out and secure profits whenever you want!
DKNGInfo only, not advice
Technical set-up for 5th wave
Second wave and top of wave 3 to the tick on expected levels
Consolidating nicely and expecting a jump in the coming month
trading along the regression trendline to $60
SPR crossed above its Bollinger band -> a sign of possible outperforming the market.
MFI crossed above its Bollinger band -> a sign of positive accumulative volume.
DKNG under 47.77DKNG is at a precarious spot right now although it held today. Volume is thin underneath this point and it can drop quick. A rally over the 51.18 level should flip this bullish.
