DKNG trade ideas
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
$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.
WATCHING $DKNG for ENTRY TARGET @ 40WATCHING $DKNG for ENTRY TARGET @ 40
I actually just posted on this one about a week or so again and after re-analyzing I'm lowering the entry target to 40.
————
I will repost when it get’s closer (or if I take a position)if it goes that way and if it makes higher highs I’ll repost with new entry.
DKNG LONGLittle squeeze coming for DKNG over the coming days, could drop to downside or could pump - looks a reasonable entry with lowish downside risk vs upside IMO.
If it drops a little further I'll DCA in line with my strategy.
** NOT TRADING ADVICE **
WATCHING $DKNG for ENTRY TARGET @ 42.99WATCHING $DKNG for ENTRY TARGET @ 42.99
I like this one too... I will definitely be back at that level...
MARKET ALPHA WATCHLIST - DKNGNASDAQ:DKNG
Short term may see a pop (target red upper trendline) but until lower indicator crosses bearish I would avoid this or take profit now. Getting in this stock now is pure gambling.
DKNG possible breakoutWe are possibly breaking out of this descending channel.
Has a lot of run to the upside
KING is leaving the consolidation stageTA is clear as day, massive meme lines of support, nice volume support below. We’re bouncing and running.
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.
DKNG more trouble to come DKNG i believe is going on Wave 3 at the moment. Wave 1 took 52 days and Wave 2 27 days which is roughly half of 52 and it also retraced nearly 50% (didn't quite get there and this show weakness).
I anticipate DKNG to fall further.
DKNG should make a small top around June 21 and it should fall off from there.
Time will tell.
As Gann said, Time is more important than price.
DKNGPlaying a long position here, as we have a clear bounce from the golden pocket with two separate touches wicking off the .707 and .618. This is clear indication of algo behavior. This is a good chance to layer into a positions for an earnings run up. 4 target listed above. Trade would be invalidated on a break of the triangle with volume and a loss of the .618.
DKNG ShortSeeing a very nice well-defined Head and Shoulders pattern on Draftkings right now. Liking a short at these levels.
*Not financial advice, opinion only*
DKNG Rebound WaveDKNG has posted a lower high and is forming a wave pattern that points to potential more downside. Also with earnings coming up and most major sports (NHL, NBA, NFL) no longer in season, this could be a preemptive move to the downside. It may find some resistance around the 44-45 level, but i believe will resume downward until 41
DKNG accumulation zone ? hello everyone :) please leave a like and follow if you enjoy ideas! I expect some more sideways action here before the next leg up. right now may be a good area to accumulate shares, has not broken this trendline in a while! will need some bad news or market crash to break it now! goodluck <3
Market Alpha Watchlist - DKNGSymbol: NASDAQ:DKNG
Type: Shareholder Alert
Indicators
Laguerre RSI
Multi-Time Frame EMA
Opinion: Shareholder alerts typically make the stock move.
Dkng bear flagDouble top once it falls through support.
Close underneath 50ma today.
Macd is bearish
OBV bearish
Double top can be seen in RSI
i think this heads back to 34$ ,then bounce in time for Football season
DKNG Looking Like Ready for Liftoff?NBA Finals, UFC, and NFL in 30days.
Might be a good play here after today's pullback.
(Opinion Only)
One last dip before the rip (DKNG)
Based off the Fibonacci lines and volume, it looks like we could dip to about 48.5 before the next rip up.
DKNG - bullish trendEntry point - 53.25 or break of trendline which is also where the 200day sma is.
Contract suggestion:
DKNG 7/16 55C @ 1.31
DKNG Round Up/Rebound WaveDKNG has posted several recent higher lows, showing strength holding over the moving averages. Looks like this will have momentum up to the 56 range where it will meet resistance.
My View on DKNGMy entry point $50 range, stop loss below 44 (below higher low).
GAP was already filled. The volume coming, higher low already takes place. It looks like more signal bullish than bearish
Take profit at $64. Good luck guys.
My strategy is based on technical analysis, I don't read any news, because news is displayed on the chart. I gave up fundamental for a long time ago.
------------------------------------------------
This is not financial advice. I'm not a Financial Advisor.
Trading is a high risk, do your own DD.
Let me know what you think
Cheers, I would share all my thought next time.
PEACE.
