DKNG Showing Strength DKNG is at a possible Macro-Higher Low putting in a 4h pinbar with a small hourly flag. Will be a good stock to keep an eye on this week for potential buy opportunitites.
Dkngstock
DKNG FLIP BEARISHHere is a simple trend-line break but put into price action terminology this is a break below bullish gap- lows with a intraday retracement to potential Lower Highs (PLH). Can expect a move back down following momentum back to previous Higher Lows (HL) and further
DKNG 1H BULLISH FLAGHere is a bull flag on the 1H timeframe and if you look closely there is also somewhat of an inverse head and shoulders forming signaling equilibrium between buyers and sellers. Expect imbalance next to either direction but according to the trend there is a higher change of a push to the upside once imbalance is created.
DKNG Inside Bar CALL side.Here is a 4h Inside bar on DKNG with a Macro trend line to support bullish bias. Be warned this trade can break below the inside bar and trigger a sell of creating another leg down. Watch for micro pull backs(5m-10m) after green level is broken for entry opportunities.
CAUTION: This trade CAN takeoff at open giving no pull back entry opportunity so do NOT let fomo give you an entry with no idea of R:R.
DKNG momentum reversal.Ugly H&S within an uptrend above weekly candle pattern breakout. Will be a nice swing opportunity and for paper handers, can be a 2 day hold for 100%+, trim at or near highs and leave runners after.
DKNGRequested by @RocketFuel20
Not financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
$DKNG Sellers are getting FULL!!! New York just legalized sports betting and NASDAQ:DKNG (DraftKings) is already breaking records in the empire state.
Confluence: Divergence between RSI and Price action;
Entry: Sub $20 is an ideal entry but the price won't stay that low for long
Target: All-time highs by end of 2022
DKNG posed to go higher?NASDAQ:DKNG has established itself as the top dog in US online sports betting. We may find an RSI Divergence pattern, as well Quant Chart's Inflection indicator signals for potential long. There may be a high chance of a swing higher.
DraftKings: Heading to the 70sLooks to have bottomed. Should hit 70s by New Years. 40%+ upside from current price
DKNG: Ready to run through football season One of the nicest setups out there right now. Won the battle at the volume shelf. Ascending triangle with advanced MACD breakout. Should steadily climb back up to retest ATH over the next couple months.
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 formed C&H and is approaching highs DKNG formed the handle and retraced around the 61.80% fib level as I thought.
We are near highs and if we can hold this level I expect us to move to $76.91 and then $83.82.
Current Price: $71.98
Support: $65, 68.70, $70
Resistance: $72.60
DKNG Cup & Handle - Short term PT of $65 before heading higher$DKNG looks to be forming a Cup & Handle pattern. This may be the start of the handle formation.
Appears to be topped out at this $72. Looks like it will move to a short term downside to $65 before heading higher to new highs.
Short Term Target: Pullback to $66-65 based on 61.80% fib level
Price: $71.75
Support: $65, $70
Resistance: $72.60
Do Not Bet on DraftKings Just Yet!!!I love this business model and concept. DraftKings has successfully brought in tons of sports fanatics turned customers. Sports betting is huge at a $150 billion dollar year industry that is becoming legalized step by step and state by state. No more will be the idea you have to go see a sport bookie at your local bar or driving all the way to the casino. This will be huge in the future and I only see them able to corner other markets as they become legal (poker, etc).
Now down to the chart and technicals. We have completed 5 waves, with divergence, and a broken channel trendline. The B wave has been completed rejecting the 0.618 area with a daily pin bar. The target is below $27 at Wave 4 and as deep as the $17 area. From there I'd recommend to buy and hold for years to come.
