DKNG: another bounce candidate?
Updated
DKNG:
Some pros and cons to play a potential bounce.
--Big Wyckoff distribution on weekly and daily.
++ Hammer candlestick on weekly (indicating bullish reversal if next candle confirms it, i.e.we get follow through)
++ Bullish RSI divergence on daily (that you can't see on my weekly chart)
Since I like the set up I will look for an entry today, but only for a swing trade (maybe 1 or 2 weeks max). My target is around 33-35.
Be careful below 27.
Trade safe!
Some pros and cons to play a potential bounce.
--Big Wyckoff distribution on weekly and daily.
++ Hammer candlestick on weekly (indicating bullish reversal if next candle confirms it, i.e.we get follow through)
++ Bullish RSI divergence on daily (that you can't see on my weekly chart)
Since I like the set up I will look for an entry today, but only for a swing trade (maybe 1 or 2 weeks max). My target is around 33-35.
Be careful below 27.
Trade safe!
Note
so far the bullish hammer seen on the weekly chart is seeing no follow through.daily chart 0.618 Fib Retracement sitting as $25
Note
2nd entry at 25Trade closed: stop reached
Bad trade. Will reconsider later.
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