$DKNG Bounce?Draftkings shares have fallen to an important fibonacci level that also happens to have a volume shelf. The MACD and RSI indicators also appear bullish. This suggests that we may see a bounce off of this level very soon. Good Luck!
DKNG trade ideas
DKNG Increasing their advertising budget to $44Million Obviously this industry is trying to get a running start on claiming a vacant spot since the pandemic. If the industry as a whole is multiplying their advertising budgets by 15X its not out of line to think that their overall profits will increase as well. Is double industry earnings year over year out of the question?
by iCantw84it
05.19.2021
$DKNG$DKNG
$45-46 initial break above with solid candle formation would be signal to enter trade
$47.5- 48.5 area where price could be held up or rejected if it rejects at first then holds add again on the break above 1/4 of intial size take at least 1/2 profits the calls will be up at least 50%
$53 - $54.5 area where im sure it wont break above espeically with it on a downtrend hence the downtrending trend line which you should be watching if it breaks above both areas where price could be rejected
DKNGDKNG
I would advise against purchasing currently, this looks like a bounce. I see no double bottom or confirmation that the low is in.
There is only convergence between the chart and the indicators. We want a clear divergence to show sellers are exhausted before we place our order. It fails at the red line resistance i put in the green box. It is regarding previous support as resistance. Which can imply more downside.
Be patient and set an alarm on bot the resistance, and the new candle bottom low.
LOOKING FOR SIGNS OF REVERSAL ON $DKNG Monthly unique paying customers surged 114% to 1.5 million. Average revenue per user climbed 48% to $61.
On Jan. 26, DraftKings surged over 5% after Goldman Sachs upgraded DKNG stock from neutral to buy, while raising the price target from 45 to 65. Meanwhile, Bernstein started coverage with an outperform rating and a 71 price target.
What's changed? Nothing. They're losing money sure, but they are investing it in the right places.
This is a long term hold, and at these levels...I'm interested in leap's well into next year.
We need to see reversals on all indicators below; MACd, RSI and volume. at that point, we can assume the bottom is in, and look for a long entry.
After living in England for years, I can promise you, Sports betting in this country will be an outstanding investment, once it really catches on.
