$DKNG Short-term Bullish, Daily Timeframe
Updated
Hey what's up ya'll! I hope you guys are doing well. There are many companies that are reporting earnings this week (
DKNG is reporting next week Thursday, Nov 7).
I'm still debating whether or not to hold contract passed earnings since it may cause a drop and I would rather exit then to hold. If I'm up at least 15% on the contract I'll put a trailing stop loss.
Contract purchased:
- 17 JAN 25 40c (down -5%)
Entry Price:
- $37.22 @ 3:34pm
Rationale for contract:
- Price appears to have hit a support around $36 (previous resistance)
- Price hit the all-time 0.618 bullish Fibonacci
- MACD curling up; blue line approaching the orange line that indicates bullishness
- RSI @ 46; near the medium line of 50
Conclusion:
If price goes below the previous weekly low at $36, I'll cut.
If price hits $41 before earnings, I'll sell or put a 5% trailing stop loss.
DKNG is reporting next week Thursday, Nov 7).I'm still debating whether or not to hold contract passed earnings since it may cause a drop and I would rather exit then to hold. If I'm up at least 15% on the contract I'll put a trailing stop loss.
Contract purchased:
- 17 JAN 25 40c (down -5%)
Entry Price:
- $37.22 @ 3:34pm
Rationale for contract:
- Price appears to have hit a support around $36 (previous resistance)
- Price hit the all-time 0.618 bullish Fibonacci
- MACD curling up; blue line approaching the orange line that indicates bullishness
- RSI @ 46; near the medium line of 50
Conclusion:
If price goes below the previous weekly low at $36, I'll cut.
If price hits $41 before earnings, I'll sell or put a 5% trailing stop loss.
Trade closed: stop reached
Got burned, but thats okay.
BOT one
DKNG 17 JAN 25 40c at $258 and sold at $205 ($53; -21%).
I sold when it went below $36 and didn't make it back up above it.
Sold at 12:12pm at $35.88.
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