Head and shoulders set upDkng providing a clean head and shoulders pattern, if we could break below $47 i think that will confirm the pattern.
D2KN34 trade ideas
$DKNG Long. Targets On Chart Trendline is possible area of consolidation instead of resistance but that is pending on how market performs in the weeks ahead.
Targets for DKNG draftkings inc. are on the chart. Just press play ▶
Not trading options? Obvious stop-loss is just below last weeks low
These thoughts are my own ideas based off my own analysis. Please do your own research before putting your own money into the markets.
DKNG Underlying trendline + ReversalDKNG is showing a bullish pattern of an underlying trendline and a reversal candle with good volume. It is possible that the underlying trendline is actually at the $45 dollar level.
Gambling and Casino stocks have seen a lot of volatility recently, and the over all sentiment seems good. DKNG recently made a 3 billion dollar deal to be an official NFL partner along with Ceasar's (CZR). Unfortunately, there is always the looming news of COVID and potential lockdowns that would turn these stocks bearish at any moment.
DKNG: A very clean impulse which fits in with the fibonacci extensions very well. Targets also include the iHnS as well as a more conservative A=C
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!
$DKNG | WEEKLY WATCHLIST 9/27We predicted the top and that a wave 4 retracement was on the horizon. Now that we have gotten the pullback, eyeing an entry to go long soon. I want the $50 level to get tested and hold to get in. Will be watching the chart closely!
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!
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Disclaimer!!!
This is not financial advise.
DraftKings: Heading to the 70sLooks to have bottomed. Should hit 70s by New Years. 40%+ upside from current price
draftkings pullback we have a solid uptrend going on with Draftkings i would let it fall to 47-50 Fibonacci confluence levels for call options and or purchases of stock
$DKNG | WEEKLY WATCHLIST 9/20On track from last week's post. Anticipating we see a buy entry opportunity in mid-October. Waiting for this wave 4 pullback to finish and show signs of a complete reversal. Still keeping this on my watchlist and will continue to track!
Goodluck!
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.
Bearish on DRAFTKINGSHead & Shoulders pattern formed on the Monthly & Weekly timeframes. As long as price continues to respect this pattern/zone of demand then I'm going to be looking for price to drop at least 10-20% over the next few months.
DraftKings Is on the MoveSports-betting stock DraftKings doubled between last November and March. Now after a long pullback and consolidation, prices are trying to climb again.
This chart shows how DKNG made a small jump following a strong quarterly report and guidance hike on August 6. It initially hit resistance at the 200-day simple moving average (SMA), but proceeded to break out about two weeks later.
Second, notice the succession of higher lows since July 2020. This shows ongoing acceptance of continuously richer prices. The weekly chart also highlights the fast rebounds after the drops, revealing potentially eager buyers:
Third, the 50-day SMA has turned higher and is approaching the 200-day SMA: a looming “golden cross.” That could suggest DKNG’s longer-term trend is turning bullish again.
Finally, the recent jump may be followed by a deeper pullback before the buyers jump in again. Traders may want to watch the mid-August high around $54.70 or the June high around $56 as important levels.
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Some mixed messagesI do think DraftKings will be consolidating further. And in the short term drop.
On the weekly we have both negative and positive divergence. Although we also have a drop in volume. I think due to the overall fear in the market. There does not seem to be enough volume to break the right shoulder that appears to be forming in this H&S pattern.
Good luck to all traders and do your own DD. This is not trading advice.
$DKNG | WEEKLY WATCHLIST 9/13Last time I posted about DKNG, I said we would come up to hit the 161.8% extension and we hit that nearly perfectly last week. Looking for wave 4 pullback/consolidation to take place before pushing for a fifth wave higher. Pennant and path shown is just a guess-timate, please take it with a grain of salt. Let's see if this plays out!
DKNG ascending trianglesimple stuff, I'm sure you've all seen an ascending triangle before. Resistance is not super rigid and a slight downward slope, but support is super rigid. Price target is 65.54 by around September 20. Anyways, if you have any criticisms let me know, i am relatively new to posting. Have a great day guys!
DKNG: Head and Shoulders FormingSeeing a Head and Shoulder Forming on 1Day Chart. DKNG is testing the neckline and if it fails here, it would end up selling off back to $50s. However, if DKNG could break the neckline around $64-$65, this would be a breakout of head and shoulders and could be pushing the All Time Highs. Set an alert at $65 and keep monitoring the price action. Market sentiment is very important here.
2 USD WINDOWpossible play on the continuation for scalping
premarket High to first target is a 2 USD window
DKNG SCALP OR DAY TRADE - SHORT TERM CHANNEL PLAY BOTH SIDES!DKNG has a lot of price action on the bottom half of this channel.
Use 30 min time frame for entry and exit.
SHORT SIDE
Based on this, short term analysis, DKNG is at an uncomfortable level and will retrace down to bottom, at it's comfort zone.
Confirmation: stoch crossing below 80, and bearish candle.
EXTRA confirmation - Volume below 20 MA. As long as volume stays below 20 MA, trend bearish.
Or jump the gun, and hop in now.
Key level of support area is around 62.95 Watch for bounce or break. Break, next support is bottom of channel at 61.45.
LONG SIDE - Set STOCH OS to 40 instead of 20.
Wait for bounce on bottom of channel.
Confirmation = bullish candle and increasing volume over 20 MA.
Cross up 40 on stoch.
Play to upside of channel.
First area of resistance is middle line at 63 range.
DAY TRADE or Scalp - Moves pretty fast in this channel.
