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Draftkings

Draftkings stooping to new lows. DKNGIronically, a picture almost identical to what Palantir had for us in the previous post. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
NASDAQ:DKNGShort
by Rykin_Capital
Draft KingsI might've gotten in too early here to be honest. However, I feel that draft kings has a lot of momentum with the variety of reach and marketability they have. The name is familiar and they continue to have good incentives and easy to use platform. I know their financials aren't the best but I consider this an emerging market even though some may disagree. I think as technology grows, so will the thirst of competitive gambling. I see a W pattern forming. As much as I want it to shoot up right now, I feel like the double bottom needs to truly form before a true move is made. I don't want a homerun here, I just want a base or two lol.
NASDAQ:DKNGLong
by Redimere_91
3
$DKNG bullish idea DKNG is an online sports betting book who as of today announced they entered a Blockchain agreement with Polygon. Polygon is an Ethereum-based scaling platform, to support custom NFT drops along with secondary-market transactions. The deal provides DraftKings Marketplace with a scalable, eco-friendly blockchain solution that enables added throughput and expanded capabilities. Sports Betting has become widely popular this quarter due to Social Media outlets whom glorify the big rewards with small risk bets such as multiple leg parlay bets. Not to mention NFL and MLB season on full throttle this quarter. Earnings should be stellar. As for the technical side of $DKNG, it has been basing at these current lows and not finding any sellers under these levels. Seems like a good risk to reward spot to position yourself bullish. Daniel Betancourt OptionsSwing Analyst
NASDAQ:DKNGLong
by optionsswing
1
High-Quality levels on DraftKings.Today we will take the last year of price quotation and we will work on all the relevant levels we will e paying attention a) The main aspect we can see are the exteriors support and resistance levels (these are our framework) b) Inside our range, we can draw a trendline that may work as a relevant support level. From there, we can expect a bounce and the following correction (Trading Opportunity 1). As we are breakout traders, these corrections are what we are looking for before entering the market c) If the price breaks the previously mentioned level, we will aim to see the price on the next support level (lower zone of our range) at 35USD. From there, we will expect the same sequence: bounce + the following correction. d) Both trading opportunities will share the same target 64USD, however, it is important to mention the inner resistance level at 56.00 USD (there we should be open to possible corrections) e) Final Idea: Remember, the best way of developing high-quality setups is by waiting for the price to reach high-quality zones. Working setups from there increase your odds of success Thanks for reading!
NASDAQ:DKNG
by ThinkingAntsOk
1
DKNG trading plan with my boxes strategyHi everyone! I've been following NASDAQ:DKNG price movement for a long time. Today I will share my analysis with you. This is a typical growth tech stock with a higher risk profile. If you are ok to see your asset go up 5% and then lose 7% the next day, then you might consider trading this stock. Quick intro: Price is in the long-term rising channel. Stock has been trading sideways for quite some time. Wide price volatility range (40-74). These stock characteristics are suitable for my boxes strategy. Key current levels: Strong demand level at 42, which would be now reachable only with a breach of a trend. Same with 44,6 level. Magnet level at 47,5. Recent bounce at the 50,7 level. Notable magnet zone at 56. In summary, NASDAQ:DKNG is a hugely volatile stock, which creates massive opportunity for shorter-term swing trading. Trade wisely and good luck! ----------------------------------------------------------------------------------------------------------------- Disclaimer!!! This is not financial advise.
NASDAQ:DKNG
by AyBe_Invest
Double Bottom Confirmed on $DKNGI'm remaining bullish here for as long as the 13-day MA keeps climbing above the 21-day. Solid structure forming with a clear break from its previous neckline/resistance. "According to an article in the European Business Review, domestic sports betting revenue in the U.S. is projected to be valued at $7 billion by 2025… and it continued saying that, according to a report by Technavio, the global sports betting market size is expected to grow by $144.44 billion between 2020-2025." DraftKings is in a very strategic position to remain a key leader in this space as more and more states continue to legalize sports betting.
NASDAQ:DKNGLong
by ClargyInvesting
$DKNG looks ready, break of box to confirmTechnically 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.
NASDAQ:DKNGLong
by FriscoTrades
DNKG: Many interesting patterns to watch this week!Hello traders and investors! Let’s see how DKNG is doing today! The trend is clearly bullish in the 1h chart, as we have higher highs/lows . The 21 ema is going up too, and it is working as a nice support level. Another relevant support to keep an eye on is the black line at $ 51.25. This point worked as support, and it was a previous resistance on July 29. DKNG is following the Principle of Polarity too. Yes, it is a bull trend, and we have a good bullish reaction above the 21 ema, but the challenge is to defeat the resistance at $ 53.38 (red line). The daily chart looks interesting. We are not in a bull trend, but at least the trend is not bearish anymore. We are in a congestion , and the 21 ema is flat, but this Inverted Head & Shoulders chart pattern is a good sign. The $ 51.25 was a pivot point , but it seems the $ 53.38 is a strong resistance, along with the $ 56.07. I see some early signs of reversal, but the situation is risky . Of course, higher the risk, better the reward. If we lose the $ 51.25 along with the 21 ema the congestion will prevail and DKNG will keep moving erratically. If this analysis helped you, remember to follow me to keep in touch with my daily updates. Have a good day.
NASDAQ:DKNG
by Nathan_The_Finance_Hydra
1
DRAFTKINGS [Breakout]DKNG crossed the creek of a persistent downward sloping supply line today after breaking above the .236 fibonacci level of the retracement shown on the chart. Anything above $48 is bullish and now that you have a decisive looking candle breaking out of the trendline on the daily, that only adds as further validation. The price is in the middle of our .236 to .382 fibonacci range, but there are local support levels that could be used as entry areas. For instance today we closed above $50.58, an area that corresponds with a 50% retracement of this range. Support above a 50% retracement is often bullish and could make for an entry for a long but keep in mind your lowest risk area will always be at the macro lower support which in this case would be at $48.06 (.236 fib level).
NASDAQ:DKNGLong
by TradeVibez
8
$BETZ is below the channel, upside looks weaker$BETZ the popular betting ETF looks to be loosing some steam on the daily chart. The stock recently broke the bottom of the channel (that has a slight downward trend) and is now below the recently started 200MA. Our entry points for this stock are $25.x and $22.x ATM. Look for a continuation to these points and then a trading scenario (in either direction). We would like to see the stock distribution in the ETF changed slightly to provide possibly further growth.
AMEX:BETZ
by swimmax
PENN Retesting $85 Soon?Penn National Gaming has quietly been gaining momentum during July after a massive fall in price since earlier this year. If we do a fib retracement from the swing high at $85 to its swing low at our bottom which is $63, we get a potential trade setup currently at the $71.84 price level. This $71 area is where the .382 fib level is, historically a great buy area mathematically speaking. Depending on the open in the morning I plan on going long with a stop just below $71.84. The key is that the $71.84 price holds. If a 4 hour candle closes below that, a retest of $68 will be in the cards which is my next and final buy area where a large position may be entered.
NASDAQ:PENNLong
by TradeVibez
DKNG pump fueled by shorts?DKNG 4HR TF Analysis After a 15% correction within a two day span from Hindenburgs claims on black market dealings/ illegal gambling, Buyers took advantage of that dip as it rallied 11% intraday and is currently consolidating for more upside. Retraced nicely to the .618 of May lows and Junes current highs and potentially forming a nice channel with lots of upside to run. Some important things to annotate on this chart: DKNG broke a 3 month downtrend June 7th, failed as price retested that previous resistance but reclaimed and holding right above(green trendline). Also, massive volume spike coming in after the Hindenburg dip. Ideally would like to see a dip back to the 44-46 levels for a dip entry, however if we don't get that dip and price pushes pass 50.15 I'm seeing a push to 55 by eow. Targets: 55, 61, 69 Trade ideas: Buy calls atm/otm strikes, 2+ weeks out (44-46 buy zone) or breakout entry at 50.15 to 1st target.
NASDAQ:DKNG
by jUiCE_Trades
4