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DKNG trade ideas

$DKNG Bullish Idea DraftKings is an online gambling app that has recently had some Negative talks from a short seller due to partners who were allegedly involved in illegal activities. DKNG has had unusual options activity aiming for a 10% increase within the next month. The stock has broken out of a descending triangle and looks to have some positive gamma momentum of bullish sweepers continue to step in. Targets are $56 and $58 by early October with a stop loss set at $51.
NASDAQ:DKNGLong
by optionsswing
DKNG Reversal or Upside BreakoutOn the weekly chart it seems a possible head & shoulders pattern is forming if we cannot break above 63 with increased bull volume to test all time highs. Although price is holding above the 10/20/50 moving average nicely on the weekly with a nice spike in bull volume which could give it some momentum to test resistance at 63 and possibly breakout. If we test resistance & bear volume starts to kick it heavy we could look for a short position with a stop above 63 and a target profit at moving average support. If the neck line is broken below 50 this will confirm a head & shoulders reversal. Also I notices bearish divergence on the weekly RSI that should be taken into consideration. This means a possible downtrend or reversal is near due to the loss of momentum in the trend. If we can break above 63 with increased bull volume we could potentially see all time highs. I will be on the sidelines waiting for a break above 63 or a break below 50 What are your thoughts?
NASDAQ:DKNG
by BillyTradesFutures
$DKNG same Target 63.64 $DKNG New Target 63.64 Literally, nothing has changed… good luck on your draft picks… haha ----- — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. ONLY ADD at support levels & FIB levels… labeled I start every position with .5 - 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
NASDAQ:DKNGLong
by SPYder_QQQueen_Trading
3
$DKNG looks ready, break of box to confirmTechnically DKNG needs to break volume shelf to see a significant move to the upside, otherwise it may retest 51-48 zone. However given the push through the AVWAP (purple line) from the highs and a close above 200MA (black line), a move to the upside is more likely IMO. Also appears to be completing phase D Wyckoff Accumulation. Rejection of the 200MA or a false breakout would indicate a move back into the channel/ more consolidation. I'm long 10/15 $60 calls at 1.6 just trimmed at 2.3 holding remaining to possibly catch the breakout.
NASDAQ:DKNGLong
by FriscoTrades
DKNG: Inverse Head and ShouldersDKNG broke out of the strong resistance triangle of $55 nicely today. Seeing an inverse head and shoulders on the long term chart, could possibly break into $60 in near future.A nice uptrend formed with higher highs and higher lows. Bullish trend. But beware of the resistance at $59/60 supply range. Plus Jacksonhole meeting on Thursday and possibility of taper talk on Friday FMCO. Nice Volume, with RSI hitting 70, MACD crossover on positive DKNG will be in focus in September as Football betting season starts. Expecting next quarter earnings be better than this quarter thus will be a good catalyst to push DKNG back to $60 range. DKNG will be a good hold for mid/long term.
NASDAQ:DKNG
by yflaw1018
3
DKNG x Falling Wedge x History Is Repeating ItselfHistory - June 9th, 2020 - Aug 5th 2020 = Falling Wedge - Aug 25th, 2020 DKNG broke out of the falling wedge - Aug 25th - Oct 2nd, 2020, DKNG had a market cycle of 81% gain Present Day - June 9th, 2021 - Aug 5th, 2021 = Falling Wedge - Aug 6th, 2021, DKNG broke out of the falling wedge Analysis - If we overlap ghost bars from Aug 25th, 2020 - Oct 2, 2020 (previous market hype cycle) then DKNG should peak around $82 early October before pulling back all the way to $53. With football season approaching in September, and the fall approaching, more people will be watching tv to entertain their selves and also stay warm as the weather will be getting colder. DKNG is also expanding beyond just football. DraftKings (DKNG) on Tuesday entered into a multi-year agreement with Simplebet to launch a real-money micro-betting service across DraftKings Sportsbook. The agreement will allow DraftKing to offer to its customers micro-betting products for the NFL, MLB and NBA, as well as a new suite of college football products, according to a statement. The more things change, the more they stay the same. Let's watch history repeat itself and trade on the right side of the smart money, realize gains when the hype cycle reaches it's peak, and double our position size at the bottom of the pullback.
NASDAQ:DKNG
by Thuja_Wealth_Builders
DKNG headed back to the $60'sMy projection is based on previous moves from higher lows to higher highs. In an trending market DKNG moves 20-30% from the higher low to the higher high in 7-10 trading days, then retraces for 2-4 days to make a higher low. My forecast is $63+ by Sept 3rd. Buying Sept 10th ATM calls when DKNG retraces and touches the trend line. Football season will be kicking off Sept 9th which should a positive catalyst. Has no impact on my analysis but doesn't hurt to have tailwinds behind a thesis.
NASDAQ:DKNGLong
by chaseflores10