0ABA trade ideas
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.
Betting on Draftkings : Oversold+signs of recovery $DKNGFA,
- Market cap : 16BN. Global TAM : 70BN
- Top rated app(4.8/5)
- Currently in 7 states(12% of US population). 19 states with mobile legislation while ,majority are still being considered
- iGaming CAGR New Jersey (2014-2018)- 25%
- Products : Daily fantasy sports, Sportsbook,iGaming.
- Building a great brand.
-Personalized experience
-History of track record = More data.
- Michael Jordan as special advisor. GOAT
- Habits picked up from Covid lockdown
TA,
- RSI oversold. 36. Rising up
- Closed above downtrend on 4H
- Short interest 23%
Entry: 43
PT1:50.5
SL: 40.2 (6.5% max loss)
Short term Swing
Risks,
- High volume during pullback
- Hasn't closed above downtrend on daily
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.
DKNG - It's a great time to bet on DraftkingsDraftkings has been practically in free fall mode over the past 3-4 weeks due to profit taking and dilution. Today's daily closing candle was a hammer which typically precedes a trend reversal. We have confluence because this also occurred on the trendline. Buyers stepped in to defend the uptrend at a key level. I am personally going long here with a stop $40.23 just below today low. I am targeting the 50% fibonacci retracement level which is around $52.