$DKNG draft pointThis week will be key to direct further price action
Friday doji close breaking out from cup & handle or consolidating within bull flag - all says something is boiling.
DKNG1 trade ideas
DKNGLooking at the chart for the past two days several ideas came up to me: With the support level being retested at 47 instead of 45 it has bullish sentiment and after the most recent analyst calls they have absolutely affected price as can be seen 9/24, 11/20 & 12/7. 12/8 we see a Doji.....What if you had an idea to buy a stock but didn't like the current price so set a buy order at the lower support? After Friday's open & close we first saw a breakout then closed aftermarket higher.
Theory: Sports-betting will continue to be legalized, which is part of this hype. No analyst is going to change what the market has to say about the fact people are bullish in the stupidest bull trend we've seen. Because so many people are already bullish and only 3 of maybe 20 analysts are bearish people will pump this to the sky again. Maybe not to 60 but this support had some time to fall to 40 and the price action has shot up several days in a row after opening in the red.
I have calls set for 1/8 at 52$ looking to begin to cut the positions at 48.50
DKNG: Here is the perfect spot to buyDKNG has hit its correction target price and here is the perfect spot to enter long.
$DKNG long idea. Cup with Handle on the daily.Draft Kings is forming a possible cup with handle on the daily. long idea here with profit targets in green.
Do Not Bet on DraftKings Just Yet!!!I love this business model and concept. DraftKings has successfully brought in tons of sports fanatics turned customers. Sports betting is huge at a $150 billion dollar year industry that is becoming legalized step by step and state by state. No more will be the idea you have to go see a sport bookie at your local bar or driving all the way to the casino. This will be huge in the future and I only see them able to corner other markets as they become legal (poker, etc).
Now down to the chart and technicals. We have completed 5 waves, with divergence, and a broken channel trendline. The B wave has been completed rejecting the 0.618 area with a daily pin bar. The target is below $27 at Wave 4 and as deep as the $17 area. From there I'd recommend to buy and hold for years to come.
DKNG finally broke out C&H PT 60DKNG is a monster, its flagging here, fomo coming soon! key levels to keep in mind.
Resistance levels 54.90, 55.62, 58.35
Support levels 49.30, 47
Simple channelAfter today's bounce from the bottom of it, it appears the rise in the channel will continue.
DKNG making room for Big MoveDKNG seems to be completing the 4th wave of this 5 wave up from early November lows. 4th wave does not like to get very far past the .5 Fibannaci zone of wave 3. But it looks like it is running a flat. I will be adding bulk of position sub 46. To add more confluence there was massive buying at 53 that took place today. Stay safe out there!
DraftKings - One Of My Forever HoldsDraftKings looks great. A bullish engulfing on the daily, NBA returns soon, and more partnerships with sports teams. Sports betting has a huge total addressable market once legalized in all 50 states, which I see happening over the next few years. They’re a forever hold for me and I can’t wait to see where they’re at in 5 years. NASDAQ:DKNG
DKNGBullish engulfing at support. Feels strong. Looking for follow through tomorrow. An upgrade in the morning would help.
Bullish engulfing off 20smaentered calls today, this looks great for a move higher, looking for a move up to start of gap fill
Cup n' Handle Daily ChartDraft kings long here..target 57$ good volume today and RSI ticking upwards
Cup and handle daily target 57$good volume today on draftkings RSI trending up and technical cup and handle pattern has been formed i see short term upside
$DKNG Draftkings Bullish Reversal
Targets $53.50 - $55.80
bullish cross above the 7ma
Volume spike today
$DKNG potential pull backRisk is not justified.
Fundamentals not supporting the upside.
Pull-back possible to retest 45 support level (trend-based fib 50% level); if broken downward target to 38-35.
If confirms the breakout from the forming bull-flag, potential target to 56, then 61.
Then double-top setting to be tested.
Would be interested in your thoughts.
The analysis is for discussion only.
