Technically 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.
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.
Note
Closing calls +140% :)Note
Expect a retest of the channel , will enter long again then most likely
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.