DKNG trade ideas
$DKNG Draftkings Bets Placed on move to $60.00
Potential for a move above the Fibonacci Golden pocket.
Longs need to look for resistance @ =
$53.00 - $54.00 at the fin Gp.
$55.80 - Gap fill
Above which the chart offers little resistance back to the ATH.
Volume resistance takes a major drop above $55.
Indicators and volume quite bullish.
7 MA offering strong support.
NASDAQ : DKNGHello everyone.
NASDAQ: DKNG daily chart support and resistance levels present. Clear uptrend given the growing interest in online gambling and bets. Sports and venues are coming back and Draftkings being an industry leader is well positioned to grow.
Timeframe: mid-term.
If you like the idea and find it helpful please hit that like button.
Happy trading everyone.
DKNG Catalysts+Break over Resist=Strong BuyDKNG has become the official betting partner for the upcoming Tyson fight, NBA on the way, Football still going on, DKNG is looking strong.
A recent break over the 49.9 resist and holding the trendline in the regression channel proves a good buy; January-March 50-55 calls look great!
Back on trackI am planning to buy some debit spreads.
We have a huge upside potential here.
Trade safe
DKNGAll price levels are algo targets. Expect a reaction at every one of those.
Green= Buy, possible dip target to reenter long
Red= Sell, dip expected at those regions
White= Has to break to confirm following price target
Draft Kings Short and Head and Shoulders Look for Draft Kings to find support around the $31 range before resuming higher. We have a head and shoulders pattern and we also have the 61% fibs providing confluence at market structure.
$DKNG possible continuation to R3 57$ targetDKNG has touched the pivot point, we might se a continuation of the bullish trend to third resistance to 57$
$DKNG - on the watchlistSee if the bear engulfing candles mean anything; re-evaluate for call option 11/25 EOD .
DKNG - November 21, 2020DNKG has looked to have found a bottom and began reversing off the 35 price level. The lockup period ended which was the primary driver of lower prices on DKNG. Had great earnings with increasing revenue expectations which gave it this nice push. Will look for it to consolidate and push higher back towards the 56 target level.
$DKNG - DRAFT KINGS STILL GOING STRONG - BULL $DKNG Still going Strong
Next Target: $53.17
Stop Loss: $46.28
$DKNG #WhatsComingLong $DKNG for target of 50. There's earnings in this week too, which if comes good, we could see level of 55+ next week on it.
Pick some Nov 20th DKNG 45calls, last traded on @ 1.35
DKNG LONG - upwards breakout out of resitance channelI entered at $38.49 and was planning to sell at $50, but upon further review I am going to hold. It looks like it just broke out of it previous resistance point ($46.35) and is headed upwards. Looking at a Multiple time frame analysis we also just had an upwards crossover event November 17th where all of my short term MAs crossed over.
DKNG: updateLets discuss whats happening here:
On the 4hr:
(1) DKNG broke out of the ascending triangle and looks like its going to begin trending on an old trend line (the orange dotted line)
(2) Finally reached my first price target of $49.14
On the 15min:
(1) Broke out of the ascending triangle
(2) Resisted my first price target (aka to fill the old gap down)
(3) Retested the 21MA
(4) Gap up, and finally surpassed my price target of $49.14
Next stop: $54.04, this is where I take profit on 30-40% of my shares
DKNG reclaim channelDKNG back in this channel with lots of upside room to run in, bounce perfect at my .618 ($38.54) and hit my first TP at 47.06 next TP is at 50.39.
the cup and handle is just a prediction and what i'm seeing as a possibility don't pay to much attention to it but if you think it could happen or have any other theories on DKNG's price action drop a comment.
My prediction : I can see potential cup and handle forming, if it continues to run up i can see the cup form at a minor resistance level at $52 then the handle will come down to support and take off back to re-test all time highs. if this does play out i see 64 by end of year
levels are 47,52,55, 60, 64
