DKNG Correction?Obviously the major turning point would be if sports games get shut down - they probably won't do it now to force the series to go through but after that is all fair play.
Looking at a possible B wave bounce then back down
DKNG
DKNG DraftKings Reach Oversold StatusInvestors are beginning to get spooked out of their shares due to multiple factors: COVID-19 Positive Test Results in the NFL and PIPE Shares officially becoming unlocked.
Shareholders are forgetting the Major Supporting Catalysts to this company:
-Exclusive Deal with ESPN/Disney
-Becoming an exclusive partner to multiple Professional Sports Teams and Leagues (NFL/MLB/PGA/NBA)
-Disney holding a Major Stake
I Highly Suggest you consider adding before this stock regains strength.
DKNG more bloodDKNG next support is near 35-36 we could see more bloodshed this week with covid cases and negative stimulus talk, If DKNG can hold above 40 we will see a strong move up but volume is low, under 20 day ema, i wouldn't play calls for short term. perfect opportunity to add shares or play puts!
DKNG LongGot beaten down heavily with bad news for last weeks. Retest of 40.40 level with strong rejection. Bullish indicators on daily. Created a new trendline.
Entry: validation of trendline, bullflag and break above 45.81.
PT: 50.23
10/26 DKNG earnings and longMy previous chart was spot on. (Link is below)
Looks like it bottomed at $40 and returned to its channel.
Fibs are key points to break a candle over.
I believe we will hit around $49-$50 for earnings(Nov 12) and then head back down to $44-$45.
Q2 earnings were horrible so be prepared for the pullback the day before the report.
DKNG LONGDKNG long entry on the break of the falling wedge structure. Daily time frame printed a bullish hammer candle on the 100 moving average which is also confluent with a previous support level and .707 Fibonacci retracement level.
Stop Loss: Daily close below 40.43
Target 1: 40.36
Target 2: 52.13
Target 3: 56.78 (gap fill)
DKNG LONG dip buy here DKNG holding above support good price here to add for long term portfolio. At the bottom of my channel with lots of upside room for it to run up. Keep in mind if any sports(NFL, MLB, etc.) were to cancel there season it will drop, but sports betting will always be around! Shares long term and 2022-2023 exp leaps will print for options.
Buy Zone and Targets for Draftkings $DKNGMy Updated Buy Zone and Targets for $DKNG
(Not financial advice)
DKNG - REVERSAL : Movement Ending Volume + Stoch DivergenceAfter -36% almost non-stop in 17 days, we are back in the zone with potential supports (and reasons for the drop to stop). Here is how we could look at a reversal :
VOLUME : Since Oct 13th, went from very small volume to 3x volume size on the 20th (highest daily volume for DKNG, all-time), after which it dropped by half. This is a "movement-ending volume". The price got to a level of interest for buyers and they are stepping in; the sellers sold their positions and left the building.
BULLISH HIDDEN DIVERGENCE : Between the low (price action and Stoch) of early September, and the new Stoch low, the price is at a higher level. This is a bullish hidden divergence, hinting towards bullish move. Stoch is at close to 0.00 also, "oversold".
UPTREND : The uptrend started April 3rd 2020. It acted twice as support (mid-August and Early september). We are arriving at this trendline once more; which may again act as the support and send the stock upwards.
FIBONACCI 0.618 : "Commonly strong" Fibonacci Support, which is at 41.56$.
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)
$DKNG Ready For Rebound$DKNG imminent bounce ahead.
Sitting on lots of support right here.
First PT: $44.7
Then watch possible PT2: $54.5
DKNG Long Have begun buying DKNG for a long hold.
Love this company.
Cmon where is all the bitcoin money gonna go ;)
Long DKNG. Found Support and will Gap Fill near 55Title says it, long term trend has been solid support. Will hold until gap is filled near $55 to $56
DRAFTKINGS - Inverse Adam and Eve - at supportkeeping watch - near term covid sports headline risk - mid-term I am bullish.
Relative strength in Draft Kings as it revisits a key zoneI just updated the post below explaining the importance of finding stocks with relative strength in market weakness (click the chart and scroll all the way down for the update). DKNG is a stock I've kept my eye on all day today and initiated long positions at 42.50, 43.3, and 43.70.
This is my last analysis on DKNG:
DraftKings best entry price 10 Oct 2020Healthy uptrend with 40% retracement with a bullish pin bar and heavy buying volume entry signal. It is a good buy and hold stock.
DKNG LongLooks Bullish to be if we can hold 40 .25 and 41.75 zone. For breakout look for high volume at 45; pt1: 48 and pt2: 50
$DKNG DraftKings at Support, Bullish Options$DKNG DraftKings bouncing off support today just under $42, forming a possible bullish hammer on the daily chart.
Bullish near term options activity today with $1.4M of $43 strike (ITM) calls expiring this week traded (30x open interest)
Near term target: $55-$57 range by mid-November
Note: This is NOT investment advice.
SPECULATIVE TRADE DKNGmy considerations, I am very bullish on this stock both short-term and long-term, I think there will be a reversal this week, the first comrades, I watched, jumped as soon as the price touched MA50 :)
b.radikal.ru
a.radikal.ru
whether the rebound will be fast or slow, I will not say whether to gain a position gradually or decide all this at once depending on your goals, fix part of the position at $ 52.50 or $ 62.50 is also your choice, I believe that part of the position can be fixed for $ 62.50 leave the remainder for a long time, maybe the casino in each smartphone will shoot hard :) who knows
DKNG might be dead for awhile! Wheres the BOTTOM?DKNG head and shoulders broke out... Now, how far down can we go? next support for me is at 34.30, if NFL has more COVID cases and more games are being delayed or rescheduled we could see DKNG down to the low 30's. Right now it is sitting at the bottom of my channel could we possibly bounce off the bottom of the channel or keep running down. lots of upside for DKNG to run up in the channel but with this pandemic and political factors coming into play i'm bearish on DKNG
