0ABA trade ideas
$Dkng Ultimate Chart DKNG looks like the daily low is set and now we continue to the upside although if we cant break resistance this can be a huge bull trap, overall depending if we ever do get a lock down than ill reconsider this count. Then again march madness is approaching with the super bowl personally i am not playing this but chart does looks good!
$DKNG setting up a breakout here.$DKNG now trading above the yellow line (50 S.M.A). Inside day trade within last week. Look for the break above 55 on this beautiful bullish pattern setup.
Short Term Target Area: 64
Short Term Target Area 2: 74
DKNG back to ATH again? DKNG if it can hold above 52.50 I'm looking at 57 short term and an overall move to retest to ATH. Last time we were at 63.91 we took a big hit due to pandemic pressure. Couple catalyst to keep this pushing, Super Bowl, NBA, March Madness, on top of states pushing to allow mobile betting. Wouldn't hurt to add here for a long term hold on option contracts that exp 2023 and shares. DKNG can easily become a 100$ stock in the next couple years.
Key Levels
Resistance / Support
53.48 50
55.68 48.02
59.40. 46.50
DKNG base building continuenice test and rejection of the 10week moving average. a large volume breakout clearing $52/share would signal a new uptrend.
DKNG Daily Support and ResistanceDKNG Daily Support and Resistance
One of my favorites. Plenty of upside on the chart. Numerous days of high volume. Constantly one of the highest played option tickers. Watch for a pullback for entry around the $50ish range before I see a test of the mid $55s again.
NO POSITION as of right now. Will be entering LONG tomorrow.
DKNG falling wedge breakoutIf Dkng can hold above 47 Im seeing a retest of 50, under 47 I'm seeing a bounce around 44.70 for an EW 1-2 setup. Under 44 its going down to my major wave 2 target at 42. Keep in mind we can see some blood today with the GA Senate runoff (market uncertainty). So scale in on these dips!
So much to look forward to this month expecting a minor sell off with 2021 leap exp 1/15 but NBA, NFL playoffs, College Football, Superbowl coming expecting a bullish push towards end of month
DKNG can see more blood but still Bullish Long term!DKNG still has more room to bleed under 45.81 I'm seeing 42, which would be an ideal entry to scale in long term positions! In an abcde correction so watch for a break out of the falling wedge to retest 49, clean break and hold above 49 i see an overall move back to 53
$DKNG good volume and bounce from BTFD levelsVery very long this name..
Big consolidation --> Fake dump --> bounce from BTFD levels -- whats not to like here ?
RSI oversold ! buy now bounced off a big support area as expected, take entry here with stop loss at 44, target 54 before looking for another dip entry.. great chart and company ! goodluck to longs :)
DKNG Possible Long SetupDKNG Possible Long Setup
Lockup period drops.
Short sellers at roughly 7%
Still up 150% since ipo merger
Do your own DD
Entry Buyzone= 43 - 40
Cost Average Down Zone = 32 - 35
1st Sell target = .618fib @53
2nd Sell target = .786fib@57.92
3rd target = ATH
HODL targey = 1.618fib @82.29
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This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Daily Chart Double Bottom incoming on $DKNG?$DKNG had a good rally after selling off from its highs of $64 and bounced very nicely off of $35. It has recently gotten rejected at $55 creating a lower high and a potential neckline for a double bottom. If the opportunity comes to get shares or calls at $35, I will definitely be taking it. It is now trading below the 20 and 50 ema headed towards the 200 ema, which is currently at $39 another potentially area for the next bounce to occur. Keeping my eye on this for a good dip buy in that range.
DKNG: UpdateI currently own 1/4 of my position with an average cost of $41. We are at a critical point represented by the red line:
Bearish below $44
(x) Add another 1/4 at $39-43, I am not certain how low we will go so odds are once we touch the 150ema on low volume we will bounce
Bullish above $51
(x) It'll take a miracle (or a HF) to bring this back to $51 this week or next, so I'm not too bullish at this moment
I'm looking for stronger volume in the coming month, however I will add to my position below $43 regardless of volume.
My EOY PT: $66-75
DNKG PutsDKNG breaking past old support.
Confirmation: 8 EMA crossed below 50 EMA as bearish momentum continues. RSI still yet to hit oversold
New target at Pivot Support4 - $44.40
DKNG heading lower ?Need to see where the corrections end. Potential points markets as C on the chart.
