Reaching the most critical level!Closing below 43.70 could cause severe damage to the bullish trend, Elliot wave analysis 🧐 needs to be done! 3 major impulse wave and 2 major correction is obvious in the last year!
0ABA trade ideas
$DKNG ABC Falling WeddgePrevious TA suggested a HnS, invalidated by a slumping right shoulder. But still expected this to drop to these levels, Nearing bottom of channel, hourly stochs Over Sold and rebounding. Falling Wedge Top Trend Line still holding resistance. Expecting a bounce in the coming weeks. ANY Stim or Vaccine news and the NFL will blow up, not too mention college ball is getting VERY popular.
DKNG invalidates last elliott count, consolidation near 39-42Previous count in now invalid because of break below wave 1 high, looking for a consolidation before beginning another count. I stopped out of my position, so I will wait for a more clear sign before I make a reentry. Copyright Rohan Karunaratne 2020
draftkings possible falling wedgeim not getting long until tomorrow since the insider shares are getting unlocked tomorrow, not sure how much selling we'll see. but if it can break out of the wedge i doubt theyll sell
DKNG to Long, Demand ZoneCondition:
Demand Zone
Entry 42.5
Stop: 40
Target1: 53; reward:risk=4:1
Target2: 63; reward:risk=8:1
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
DKNG - LongDKNG traded in uptrend.
Fallback exactly to uptrend line + support line.
Also performing falling wedge pattern (see 1 hour chart for more clear view).
Take profit @55
Stop loss @39.5
1 hour char:
SPECULATIVE TRADE DKNGmy considerations, I am very bullish on this stock both short-term and long-term, I think there will be a reversal this week, the first comrades, I watched, jumped as soon as the price touched MA50 :)
b.radikal.ru
a.radikal.ru
whether the rebound will be fast or slow, I will not say whether to gain a position gradually or decide all this at once depending on your goals, fix part of the position at $ 52.50 or $ 62.50 is also your choice, I believe that part of the position can be fixed for $ 62.50 leave the remainder for a long time, maybe the casino in each smartphone will shoot hard :) who knows
Still in major corrective phaseDKNG will be heading into further potential correction. Should it rebound, the bullish move will be exponential.
DKNG might be dead for awhile! Wheres the BOTTOM?DKNG head and shoulders broke out... Now, how far down can we go? next support for me is at 34.30, if NFL has more COVID cases and more games are being delayed or rescheduled we could see DKNG down to the low 30's. Right now it is sitting at the bottom of my channel could we possibly bounce off the bottom of the channel or keep running down. lots of upside for DKNG to run up in the channel but with this pandemic and political factors coming into play i'm bearish on DKNG
DKNG - October 18, 2020Good RR here on DKNG as we might have found a strong bottom from this retracement.
DKNG Elliott Waves/Fibonacci IdeaHad to redo this chart
Not sure If I can see this last wave completing before ER but the second wave was a long correction which means wave 4 will be shorter. The hidden divergence, playoff excitment, and also the news on online sports gambling growing to $748.6 million in September gives me more confidence that this uptrend should be strong.
DKNG - Good Risk/Reward Long TradeABC corrective wave complete, looking for a long entry around $45 with a price target around the 1.0 fib and possible extension target. Reward/Risk +6:1 with a stop loss around $42
Pullback to demand zone to Long.Shared DKNG last week, check my profile.
Price pull back to demand zone.
Waiting for entry signal to long into this country.
Monitor closely.
