DKNG1 trade ideas
DraftKings - NOMO FOMO - Valuation Matters - PONZI POGS POOF#EpicEconomics
The $DOGE pup & $AMC monkey crowd fan fav. *Valuation Matters.
DKNG doing a fake outDKNG is in a symmetrical triangle as of right now but, looking at the RSI it might want to fall down into the symmetrical wedge below. Wait for confirmation on either side. Personally I am short.
DKNG daily - Descending TriangleDKNG daily -
Descending triangle breakout play
entry set just above previous high @ 51.49
DKNG BearishDFKNG is at resistance.
If it breaks the triangle it could turn bullish however right now it looks like it should just bounce of off the resistance.
DKNG Break out or re-test? Good entry approaching!LONG on DKNG.
Looking for further entry zones approaching earnings.
Looking likely to retest the entry zone as marked? Or break out.
Personally I can see a re-test coming, where I'll be adding more.
DKNG broke trend line?If DKNG closes the day above the upper trend line I would expect it go continue to go higher.
DKNGI always consider 2 options, because you can always make a mistake, the trend can always turn hard at the beginning of its growth, so it is better to trade relatively strong levels and already on a confirmed trend.
Therefore, the safest would be to break through the zone around 54.5 (there are large moving averages), test and buy long.
For those who are confident in the long buy from 51.8.
DKNG Bull Flag BrokenPerfect Bull Flag broken and it closed high yesterday (7/28). Today big bullish momentum can be expected if it makes new high from yesterday.
DRAFTKINGS [Breakout]DKNG crossed the creek of a persistent downward sloping supply line today after breaking above the .236 fibonacci level of the retracement shown on the chart.
Anything above $48 is bullish and now that you have a decisive looking candle breaking out of the trendline on the daily, that only adds as further validation.
The price is in the middle of our .236 to .382 fibonacci range, but there are local support levels that could be used as entry areas. For instance today we closed above $50.58, an area that corresponds with a 50% retracement of this range. Support above a 50% retracement is often bullish and could make for an entry for a long but keep in mind your lowest risk area will always be at the macro lower support which in this case would be at $48.06 (.236 fib level).
DraftKings - DKNG - Is at our first critical target. DraftKings - DKNG - Is at our first critical target. Will it break the downtrend line and get above the moving average resistance? Or will it consolidate in the golden fib zone? Edutainment Purposes Only.
Setup getting ready NASDAQ:DKNG
Havent made a play here for a while but its starting to get interesting. Continues to test that upper trend & likely only a matter of time before this breaks the upside for a nice move!
Personally would love a minor rejection for entry
Draft kings If draftkinfa can get back above 56$ and hold it should be an easy run for it to go retest 80$ range. As of now 51.60 will be a decent entry point based off a DOwntrending resiatnce line. I do see some bearish divergents on the daily which concerns me but I’ll be watching for a breakout and confirmation here.
DKNG bullish wedgeA trend line is generally accepted be a trend line when it makes at least three touches. You can see DKNG has longer upward sloping support, and a succession of lower highs forming compression in price. 44 also seems to get a lot of attention. Price dropped below 44, touched the lower upward sloping trendline, and is now back above the 44 area. I read, when you draw a line on a chart, do it with a crayon, instead of a fine point. The point being, the lines are more like price areas, not price points. There's nothing special about any line. Price is going to do what price wants to do. It simply gives a trader a visual area to help make an objective decision instead of an emotional decision.
DKNG Are we starting to see the 10x advertising budget show?This is like a tiking time bomb waiting to explode in a good way. They stated at the begining of the year that it would be in their best interest to increase their advertising budget 10 fold. It was an obscene amount of money I want to say close to 50Million? I could be off by a 0 here or there. but the end result is based off increasing the advertising budget 10x we should see an increase to profits equal to. With covid and gambling going up in general....this should be an easy win win.
by iCantw84it
07.20.2021
