Get started
DRAFTKINGS INCDD

DRAFTKINGS INC

760.00MXND
−15.00−1.94%
At close at Mar 26, 17:36 GMT
MXN
No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Bonds

DKNG1 trade ideas

DKNG - It's a great time to bet on DraftkingsDraftkings has been practically in free fall mode over the past 3-4 weeks due to profit taking and dilution. Today's daily closing candle was a hammer which typically precedes a trend reversal. We have confluence because this also occurred on the trendline. Buyers stepped in to defend the uptrend at a key level. I am personally going long here with a stop $40.23 just below today low. I am targeting the 50% fibonacci retracement level which is around $52.
NLong
by rarewalt
DKNG - REVERSAL : Movement Ending Volume + Stoch DivergenceAfter -36% almost non-stop in 17 days, we are back in the zone with potential supports (and reasons for the drop to stop). Here is how we could look at a reversal : VOLUME : Since Oct 13th, went from very small volume to 3x volume size on the 20th (highest daily volume for DKNG, all-time), after which it dropped by half. This is a "movement-ending volume". The price got to a level of interest for buyers and they are stepping in; the sellers sold their positions and left the building. BULLISH HIDDEN DIVERGENCE : Between the low (price action and Stoch) of early September, and the new Stoch low, the price is at a higher level. This is a bullish hidden divergence, hinting towards bullish move. Stoch is at close to 0.00 also, "oversold". UPTREND : The uptrend started April 3rd 2020. It acted twice as support (mid-August and Early september). We are arriving at this trendline once more; which may again act as the support and send the stock upwards. FIBONACCI 0.618 : "Commonly strong" Fibonacci Support, which is at 41.56$. SUPPORT PIVOTS : 44.00$ (All Time High for a while, was the resistance to beat, once broken out of this zone it became parabolic), 41.00$ (highs pivots of end of August) (Note that the Average True Range is at 3.70$, meaning we can expect 3.70$ of volatility pas a targeted support line)
NLong
by butcher42