DKNG finally has breakout :))posted DKNG was gearing up for a solid breakout.
they had a great earning on friday but with the market downtrend it didnt do the best. it hard a really hard time breaking the 62 dollar mark.
i am assuming a-lot of contract expiration were ending last Friday witch didn't help the stock climb.
today it broke out of the channel and i sold 10 of my 30 contacts to take some profits.
lets see what happens and ill sell the rest.
companys alway retrace back to the channel (blue lines) so when doing so be cautious
1DKNG trade ideas
DKNG fair wind on our sideGo with the flow of good earnings.
Put/Call Open Interest Ratio 0.35
Put/Call Volume Ratio 0.38
Growing analyst forecasts
For info (26/02/2021):
DraftKings reports Q4 revenue $322M, consensus $232.6M "With a favorable fourth quarter sports calendar and strong marketing execution, DraftKings was able to generate tremendous customer acquisition and engagement that propelled us to $322M in fourth quarter revenue, a 98% year over year increase," said Jason Robins, DraftKings' co-founder, CEO and Chairman of the Board. "In the fourth quarter of 2020, we saw MUPs increase 44% to 1.5 million and ARPMUP increase 55% to $65. We are raising our revenue outlook for 2021 due to our expectation for continued growth, the outperformance of our core business and newly launched states that were not included in our previous guidance."
Pitchfork DKNG into next earningsPotential Price targets based on pitchfork into next earnings. Just hypothetical if the bullish trend continues.
High Range: $79.61 to $87.34
Median: $79.61
Low Range: $70.95 to $79.61
DKNG raised its revenue outlook for the FY2021 from a range of $750 million to $850 million to a range of $900 million to $1 billion.
Update on DKNG trade: near target, on trend, bullish indicatorsDKNG traded up in the parallel channel and nearly hit the projected target. Based on the TTM squeeze indicator it looks like it is just building strength to take off. MACD signals buy as well.
Fundamentals: They just beat on revenue on their latest earnings. They continue to grow paying-customers. More states are legalizing giving it a tailwind. This stock could trade to CHWY levels easily.
Entry point: Below $65
Price Target: $100
Stop Loss: $50
Draftkings on Discount with strong support at 58Drafkings has continued its run despite strong competition and that leads me to believe that this is one of the few SPACs to take seriously. I believe that there is strong momentum behind names like this even though a lot sports gambling season hype is over.
Earnings may tell a different tale, but Drafkings still is one of big companies to grow with the industry, and I think the price will continue up through a choppy market.
I'm not a financial expert, and this isn't a recommendation.
DraftKings LongPlayA Well Respected channel clearly in a continued uptrend, I anticipate a pullback to the given support in the chart before a continuation to the upside .
Ensure to plan your trade , Entry , Exit , and SL ...and dont get greedy ...take profits on the way up ....Thanks For stopping by . ..Appreciate the support , show your appreciation with a Like/Follow and feel free to comment .
$DKNG | 1H Bull Flag Breakout and Retest$DKNG broke out of an hourly bull flag and bounced perfectly at the flag/structure retest.
We can expect continuation to the upside with a break & close above $62.25 as confirmation.
Targeting the previous highs at $64.50. Invalidation below $59.5
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
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.
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)