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DKNG trade ideas

DRAFTKINGS [Breakout]DKNG crossed the creek of a persistent downward sloping supply line today after breaking above the .236 fibonacci level of the retracement shown on the chart. Anything above $48 is bullish and now that you have a decisive looking candle breaking out of the trendline on the daily, that only adds as further validation. The price is in the middle of our .236 to .382 fibonacci range, but there are local support levels that could be used as entry areas. For instance today we closed above $50.58, an area that corresponds with a 50% retracement of this range. Support above a 50% retracement is often bullish and could make for an entry for a long but keep in mind your lowest risk area will always be at the macro lower support which in this case would be at $48.06 (.236 fib level).
NASDAQ:DKNGLong
by TradeVibez
8
DKNG bullish wedgeA trend line is generally accepted be a trend line when it makes at least three touches. You can see DKNG has longer upward sloping support, and a succession of lower highs forming compression in price. 44 also seems to get a lot of attention. Price dropped below 44, touched the lower upward sloping trendline, and is now back above the 44 area. I read, when you draw a line on a chart, do it with a crayon, instead of a fine point. The point being, the lines are more like price areas, not price points. There's nothing special about any line. Price is going to do what price wants to do. It simply gives a trader a visual area to help make an objective decision instead of an emotional decision.
NASDAQ:DKNG
by OldTraderSan
DKNG Are we starting to see the 10x advertising budget show?This is like a tiking time bomb waiting to explode in a good way. They stated at the begining of the year that it would be in their best interest to increase their advertising budget 10 fold. It was an obscene amount of money I want to say close to 50Million? I could be off by a 0 here or there. but the end result is based off increasing the advertising budget 10x we should see an increase to profits equal to. With covid and gambling going up in general....this should be an easy win win. by iCantw84it 07.20.2021
NASDAQ:DKNG
by iCantw84it
$DKNG - Symmetrical triangle broke downThe chart look bleak. We are currently at first support after break down. We need to reverse or else we are in trouble. Reversal from $43.84 would be bullish. Will publish chart with reversal targets when that happens. Here are the expected support areas: Support 1 - $43.84 Support 2 - $42.05 Support 3 - $39.99 Support 4 - $38.21 Support 5 - $35 (Max breakdown target) ——————————————————— How to read my charts? - Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines. - The yellow horizontal lines shows support and resistance areas. - Fib lines also shows support and resistance areas. - The dotted white lines shows price projection for breakout or breakdown target. Disclaimer: Do your own DD. Not an investment advice.
NASDAQ:DKNG
by PaperBozz
1
The King is Ready I believe the next move up is ready. The entire gambling sector has been getting killed, LVS, PENN, GNOG, RSI. It’s time for some rebalancing back into gambling-growth. Look at the 5 months of consolidation on BETZ. Fake bearish pennant, volume declining with an increasing price, and a breakout of upper resistance. We touched a massive volume support sub $48, and now it’s time to buy and ride. MM indicator, 6d SMA and oversold RSI is flashing for reversal. MACD is showing some momentum upward. Lastly, we have expected great earnings, DKNG is releasing their NYC application in the next few days. The market is about to BOOM.
NASDAQ:DKNGLong
by thehappyitalian