Descending wedge into a breakout by midweek?Bouncing off the 4hr 50EMA like a boss. Could see a breakout anytime now with RSI very low
0ABA trade ideas
anticipation of more lockdowns pushing dkng share price lower? joe biden said if he gets in he will do another lockdown. i dont think he is lying. with inaguration day coming soon and no convincing signs that trump will stay in office, its looking more and more like biden will get in.
dkng is highly dependent on sports obviously, and if the lockdown gets confirmed this thing is gonna sell off hard.
from a technical standpoint it looks like there may be some underlying weakness. the breakout from last week has been completely faded over the course of this week. we have an ascending channel/wedge and the chances are that it will break down and the daily macd is curving lower, not sure if it will start selling off again, but if the channel support doesnt hold, i will be entering short. if we break below the 50 and 20 day moving averages (white and gold ), we will probably see a significant second leg down. also, we have possible hidden bearish divergence on the daily macd.
there is a bull case to be made however. we are still in an uptrend on a macro level and on an intraday level, and it looks like we may get a bull cross of the 50 and 20 day soon if it can continue going higher.
could still be bullish, but there is a bigger, stronger bear case to be made here.
US Stock In Play: $DKNG (Draftkings Inc)$DKNG has traded back into its 9 months trend channel zone, breaking above its 50DMA. At the current junction, $46.25 price level would be acting as its immediate support resistance; coinciding with its 50DMA.
The first major price resistance hurdle to clear is targeted at $55 range gap, before a breakaway acceleration towards its all time high level at $64.20.
DKNGInfo only, not advice
Much hyped stock. Stock RSI looks low and consolidating. Nice upwards trend and targets based on W1 and 1.618 levels.
DKNG Trade IdeaDKNG in a nice wedge , setting up for a nice move, could see 20ma crossing 50ma soon, with bull divergence on RSI , and declining volume towards TL resistance. As long as DKNG holds above 48.50, it may go for a move towards 52.10, 54.50 next, and 57 as a final target.
$DKNG GP Test, Bullish ContinuationI entered DKNG options too early @ $40-45 price range and realized the loss.
Looking to take / add long positions here on higher lows if we're able to break the GP and hold.
Final TP: $70-72
DKNG predictionDaily chart: based off market symmetry, the trend is likely to go down.
Also the doji candle at 53.75 is an indication of trend reversal, though the volume is not significant
DRAFTKINGS Opinion DailyHey guys, DRAFTKINGS is in a bullish movement with a hammer candle shape and a low chat price effect. The TIMEFRAME M1 shows us a hammer candle with a low sell volume executed it goes towards the top of the range to test it. And we will witness a breakout on the price, great possibility of breaking the range to reach the one above. Then go and land on the next top (See TIMEFRAME H4) with an excess on TIMEFRAME H1 and a return on TIMEFRAME D1. No strength to go and test a new comfort zone and to arrive at half the intermediate median on ANDREWS PICHTFORK.
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DKNG DRAFT KINGS BULLSDraft kings has made a correction and is looking to continue it's bullish upward momentum
DKNG c&hOver 52 this can push to fill that gap up at 55-56. Holds over 47 i'm bullish, watch for the breakout of that down trend.
im looking at 55c 12/18
We are in a low volume pocketV bottom and hammer at 50 FIB. Over 53 and game on (gap fill immediate target)
DKNG updateOne of my favourite setups at the moment. In green are my three short-term price targets (1/3 hit)
Now that the 25EMA is on top of the 50EMA I'm super confident this is a bull run to $60+ in the next 2-4 months. The orange dotted line acted as a short-term trend line off the primary short-term trend line, this is a bullish move as the slope increases and this dotted line must begin acting as new short-term support (which I'm will be the case in time). The black dotted line is the bull run slope, still hasn't broken it either.
I'd hate to miss out on this one.
DKNGProjecting that DKNG will reach the axis at point "5" at 77.38 by Dec 28th. Good time to buy in for a months hold.
DKNGV bottom still in tact. $72 still first target. Probably hesitates between $53-56 but I don't expect much imo.
DKNG Update Based off my previous DKNG chart, DKNG is pushing up towards the 55’s. I think with the impending 2nd lockdown coming, DKNG has a chance to have another bull run. Around the 3rd week of March when the national lockdowns began, we can see in the purple shaded rectangle, the lockdown seemed to serve as a catalyst in a bull run. As we also saw in August in the pink shaded rectangle, we saw a doji which represented a bull reversal. As NBA starts to ramp up, with the addition of Virginia legalizing sports gambling, DKNG may have a “lockdown proof” earnings in January.
I do believe that DKNG is due for a reversal, so I will be looking to add more around 48.63, 46.66, and 44.78. If DKNG can maintain the 44.78 level – 50 day EMA, I think that would be a prime entry point and possible confirmation as support.
