DKNGMID-TERM: Breakout of downsloping channel, bottomed at a historical support, classic bullish divergence. (not financial advice)
DKNG1 trade ideas
DKNG Oversold?DKNG has suffered from massive selling. The stock fell from its highs of $65 in September, to about $50. It consolidated for a month in a parallel channel and then broke below. Measuring the downside move from the bearflag/ABC pattern places DKNG at current levels ($35). We are currently sitting at a support level that was created back in October/November of 2020. Additionally, RSI reads that we are overextended to the downside. The last time we had a reading this low was at the same support from Oct/Nov. DKNG bounced about 40% from those lows. If we begin to close above this steep downtrend channel that we are in, we could look for a retest of the 0.618 fib level which happens to be around $40.
draft King Long shot but still possible
After this stock has dramatically fall into bear market, mega hyper run, I do not expect to fall more, not with all sport gambling industry potential, a lot of noise about Some hedge funds shorting the stock, but the truth is that small caps was decimated, sin september, this offer tremendous potencially, im long stop 25 easily could get back to $41-$51 levels next year, is a risky bet but with a lot sport events the next year i think could even be back to all time high but i t will take time, as all investment, people get frustrated after losing but you never buy high points. i remember people trashing apple and nvdia and now the dont know how to cover their shorts. still think they could continue to growth into double digits next year.
$DKNG back in Accumulation Zone. Room to $30DraftKings, after another terrible earnings, looks to be falling below the neckline of a bearish head and shoulders pattern. It looks like there is room to $30, where we will likely see it bounce a bit and need a good catalyst before it gets over $40 again.
Bearish Long Term Head and Shoulders on DKNGDraft Kings looks to be breaking down under the neckline of a long term head and shoulders pattern. This is extremely bearish and suggests a target in the $15-$20 range based on the height of the head from the neckline. Possible retest of the neckline before the crash. If the neckline resistance holds, look out below. If DKNG can break through the neckline with confidence, the pattern and trade setup could be invalidated. I personally prefer to wait for the neckline test before entering a position.
DKNG - HIGHER WATCHLIST THAN ANY OTHER STOCK HERE All,
Put DKNG top of everything on your watchlist. HUGE demand area down here first long term retest. Confluence support trends downard that have popped 20-50%. I HIGHLY suggest watching DKNG over almost any stock in the next few weeks. I think DKNG once it bottoms here 3-6mo out will get you 200-300%. Just be patient or scale in in 30-32 range. Watch for options activity + big candles (hedges,insiders,tutes) buying in. I promise DKNG will return, sports will NOT stop due to COVID. Even Biden clearly said shutdown is not happening.
DKNG DKNG has been bleeding a lot.
Today It reached a major support level.
We should see a reversal here now. It's also sports betting season. December so many games going to be going on, might as well take a bet here ;)
1st target 36.83 (Which is the red resistance line)
2nd target 39.65
Not financial advice.
DKNG - Bullish Flag SetupDKNG - is another company that i reviewed a while back on my youtube channel and after digging in the business model made me even more bullish on them, however they had a little bit of a side step when it came to earnings but what W/S didn't consider is that the promos DKNG ran when going into the new added states was the amount of promotional money DKNG put up for that when considering the numbers showed as it losing ground there also MAU Deposits when down due to them getting free money to sign up and after them having to fund money did not end up meeting the mark in either case it was an over reaction and the price has struggled HOWEVER as we can see this is a bullish flag setup which have a tendency to break to the top side i know those things are guaranteed but it still makes for a good play to throw in your watch list and if starts to make a push to the top side throw some money into some calls to take advanctage of those gains, in addittion to this Cathie Wood and her ARK fund has not stopped adding to their very large position with dkng
DKNG [LONG] DCAAdding here to DKNG after it dips further into my DCA zone, remain bullish longterm so building out a position here.
Price targets remain at $65 and $100 presenting good upside, and acceptable risk for me at these oversold levels - still some downside on the weekly indicators but daily looking good for a bounce in the short-medium term.
Will continue to DCA lower if it dips towards the 0.382 fib level around $35.
** NOT FINANCIAL ADVICE **
