Cup and Handle Pattern on DKNG 4HCup and Handle Pattern suggests continuation of bull pattern and possible break out above the channel or to top trend line resistance.
0ABA trade ideas
DKNG BounceDKNG has had a great runup over the last 2 days, but it has now ran into resistance at 72, this is where extra supply will be from the last selloff at this level. I believe this will pullback toward moving averages. If not this trade is low risk and can be exited at any break above 73
DKNG > Buy DKNG > Buy
> Follow Buy a trend on this price.
> Causing the price to open the VA break to stand at 64.79 $
> It is a very important signal
> Risk/Reward Ratio: 2.48
More Room to Run for Draftkings?DKNG is trading in an upside channel after a pullback from its all-time high of $64.20 set in October 2020.
It saw a few upgrades this morning and is now set to open the session above that $64.20 level. If I see it hold that mark (and hopefully retest it), I’ll consider the R2 Fibonacci pivot level ($67.14; RM2 on the chart) as a potential intraday price target. The next near-term target, if the upside momentum persists, would be the all-time high of $72.
On the downside, the 20-day EMA would be a possible support. Further down, I'll keep a close eye on the $ 60 zone, which was in play multiple times in the past.
A Proven Growth Winner I think DonkeyKong DKNG is a proven winner and can run much higher much quicker then other growth stocks .. in all seriousness draftkings chart is about to go if it can get above the POC there’s no stopping it into $70s that sell off would’ve been a better time to add but now that the dust has settled a bit we see a more clear picture that DKNG and it should be proof this stock will be seeing higher highs soon.
DKNG Investor Day, Tuesday 3/9Credit goes to u/AllDatDalton for bringing this under my radar, he's got a Twitter somewhere I think.
There is what seems to be bullish UOA. A reminder that options volume can always be institutions hedging, positions rolling, or just overall sentiment. But it can be sometimes insiders and Whales making a big bet.
Currently, the market looks rather bearish even with the recent passing of Stimmy. Bonds and treasury yields, inflation, job numbers, all the fun macro level stuff. I'm expecting a dead cat bounce or bull trap. The market doesn't do these kinda drops and be making new ATH the next week lol. Stairs up, escalator down, when things drop, they drop hard and fast. Somehow, physics exist psychologically in the market too.
Now to DKNG, I think it can hit around $50-$52, which are my blue and yellow trend lines. Stocks have been crashing down through all the supports and trendlines, but I hope $50 will be a strong psychological barrier. I'm not going to get too deep into the fundamentals of sports betting and DKNG, but every time I watch UFC, I see that they're sponsored by DraftKings. Cmon who doesn't fucking love gambling. Legalization is happening.
On the 15min MACD & TTM look like a top. RSI levels correlate roughly with February levels last time it sold off. 1Hr might be a crossover, with RSI bouncing off 30. TTM also looks like it's about to go green. Almost the same on the 2Hr. For these reasons, I will be trying to get some 3/12 or 3/19 calls.
3Hr and up looking like DKNG can sell off a little more.
Tbh anything under $60-$55 range is pretty good entry for the long term imo.
I'm expecting a short rally in the short term, followed by more selling off. It's very possible that $54 on March 5th was the bottom, but who knows. If I don't get calls on my limit order, I'm okay with not making money on this play. It's better to not make money than potentially having your calls shrivel up and die.
Game on for DraftKings?On bearish days like we’ve had lately, it can be useful to look for stocks lurking near highs because they often break out when calm returns. DraftKings seems to fit that bill.
First, consider how the sports-betting stock formed a large bullish ascending triangle between early October and late February. Notice how it began the current month with a breakout through the top of the triangle. It’s now trying to turn old resistance into new support near the old peak.
Second, Bollinger Bandwidth remained at the narrower end of its long-term range as price squeezed toward the top of the triangle. Will it start expanding if the shares exit the triangle?
Finally, DKNG had a false breakdown below $53 on February 23. (This was actually the low for the entire month.) It quickly rebounded from the drop, creating a bullish outside week. The pullback also served as a test of old resistance around $55 from mid-December and mid-January.
DKNG has had a flurry of positive headlines lately: strong revenue, strong guidance, snagging Carl Ripkin Jr. before baseball season, plus the exclusive UFC deal. It can now potentially benefit from the spread of sports betting as the U.S. economy reopens.
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DKNG pullbackwould not be suprised to see this go all the way back to previous support, into its trendchannel and bounce back up later, please dont take this too serious this is a quick sketch
Draftkings bullish on WEEKLYHi guys,
Jumping right in......
Draftkings on the weekly is looking extremely bullish and i am currently in this trade (daily timeframe).
When there are bullish signs on larger timeframes, the moves tend to last a bit longer but can have massive profits.
As you can see we broke out of an ascending triangle that's been forming since November'20. If you measure for potential targets, it comes up around $95, give or take a few $. To measure you draw a line from the horizontal resistance line to the start of the ascending trendline, which is known as the base. Confirmation was made with daily candle closes above horizontal resistance. We would like to see for weekly candle close above the line as well.
Before breakout, last week candle printed a dragonfly doji variation, which is trend continuation pattern to upside. Extremely bullish. And it wicked up from the 21 EMA, meaning people got there eyes on this stock with extreme buying that happened.
We are currently above the 21EMA which means uptrend still intact.
Stoch RSI is at 80 lvl. But there's a cross and more room for momentum upwards.
MACD currently showing signs of positive momentum.
Keep an eye on RSI, as currently there is divergence. Which is a case for bearish move. However, currently its trying to breakout of the downward trend. We'd like to see it make a new higher high.
Thank you. That's it for now. Let me know what you think by commenting.
DKNG correction time?$DKNG update wave 3 of 3 target hit, could see a retrace to my .618 which fills that gap at 62, I can see one more push towards mid march once this correction is in, after this month not much sports activity going on but news with gambling (laws, app features, partnerships) can push this.
Short target: 60
Long Target: 75+ ($100 stock long term)
DKNGDISH Network Corp. DISH, +2.12% and DraftKings Inc. DKNG, -3.30% announced Wednesday an agreement in which DraftKings' fantasy experiences and sportsbook will be provided directly to DISH customers. Shares of DISH surged 7.3% in premarket trading and DraftKings rose 2.7%. As part of the agreement, DraftKings' app will be integrated on the DISH TV Hopper platform. "We're thrilled to work with DraftKings to amplify the sports-fan experience, and extend the DraftKings footprint across our unique suite of services, including SLING TV and Boost Mobile, with potential applications across our 5G wireless buildout in the future," DISH TV Group President Brian Neylon. DISH shares have dropped 11.0% over the past three months, while DraftKings stock has rallied 37.0% and the S&P 500 SPX, -0.68% has advanced 5.6%.
Draft KingsDraftKings is an American daily fantasy sports contest and sports betting operator. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports (MLB, the NHL, the NFL, the NBA and the PGA), Premier League and UEFA Champions League soccer, NASCAR auto racing, Canadian Football League, the XFL, mixed martial arts (MMA) and Tennis.
Because why not!
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