DKNG trade ideas
DKNG LONG - upwards breakout out of resitance channelI entered at $38.49 and was planning to sell at $50, but upon further review I am going to hold. It looks like it just broke out of it previous resistance point ($46.35) and is headed upwards. Looking at a Multiple time frame analysis we also just had an upwards crossover event November 17th where all of my short term MAs crossed over.
DKNG: updateLets discuss whats happening here:
On the 4hr:
(1) DKNG broke out of the ascending triangle and looks like its going to begin trending on an old trend line (the orange dotted line)
(2) Finally reached my first price target of $49.14
On the 15min:
(1) Broke out of the ascending triangle
(2) Resisted my first price target (aka to fill the old gap down)
(3) Retested the 21MA
(4) Gap up, and finally surpassed my price target of $49.14
Next stop: $54.04, this is where I take profit on 30-40% of my shares
DKNG reclaim channelDKNG back in this channel with lots of upside room to run in, bounce perfect at my .618 ($38.54) and hit my first TP at 47.06 next TP is at 50.39.
the cup and handle is just a prediction and what i'm seeing as a possibility don't pay to much attention to it but if you think it could happen or have any other theories on DKNG's price action drop a comment.
My prediction : I can see potential cup and handle forming, if it continues to run up i can see the cup form at a minor resistance level at $52 then the handle will come down to support and take off back to re-test all time highs. if this does play out i see 64 by end of year
levels are 47,52,55, 60, 64
DKNG bull flag, can we keep pushin!DKNG has finally reclaimed my overall channel. Right now i can see a bounce at $47 (.618 fib) and we bounce to see 51 if we carry the momentum we have for the rest of the week. Volume is great, over 20 ema so i can see 51 by end of the week. If it can Hold above $47 overall move is back to $55. Under 46.50 i can see next bounce around 44 and possibly fill that gap at 42.77 but with the momentum it has, i dont see dkng going down this week but keep in mind basketball is starting in a few weeks so dkng is at a good price to go long... 2022 - 2023 Calls
my PT is 52
$DKNG Insider Buys 7mm shares$DKNG has gone thru some ruff times. They had a secondary offering that did not do well the first week of October. Shares sold off hard for about 3 weeks. Then insider(s) bought 6,922,455 shares between October 23 thru the 26th. Earnings came in lower than expected and of course sports betting is down because of COVID... However, the stock has held up well after earnings and has regained the 21 EMA. I've opened a 1/2 position today as I think $DKNG will be a long term leader, all TBD. You can see my entry price on the chart and I have a flexible stop at $40. Ideas, not investing / trading advice.
This has a springboard setup now that we are over 44.79. Lower volume gaps up here so less price memory
$DKNG Draftkings Inc $53.00 Bullish target
Looks like the stock will break above the 50MA today and open
up the possibility of a nice rally to the $53.00 region.
Volume rising
Analysts upgrades
Indicators bullish
#DKNG Path to 100. Lots of chatter after earnings revealed the major rise in users over the last quarter. Charting out a potential path using Fibonacci Extensions and Basic Fibonacci tools suggest the .618 (near its current area.) can make its way up to the 1.618 zone (near 96-100 area.)
Of course the path to new ATH’s aren’t as simple as a straight line, but I’ll be looking at options with 3/21 exp. dates. *not financial advice pendejos.
DKNG update Again, playing around that 44/45 price zone, I'm confident once this level is broken it'll retest then move its way to 55/60 price point by February 2021.
Bullish Trading Channel DKINGBullish trading channel with doji and hammer candles testing support trend line drawn from the past two weeks.
still looking for 51+ on this tradeneed a break of 0.618 fib levels, although it may consolidate in this area before a move higher
DKNGFriend asked for this. I have a lower pivot than the indicator but in any event has to have closes above 41 to have a chance at a bounce or continuation. Could reverse but its not looking crazy strong here.
Draftkings Long DKNG pushed up to as high as 65 after the restart of sports, but with the recent public offering of shares, DKNG had a huge drop in pricing. I believe that DKNG is a great company to hold for the future, and this presented a potential great buying opportunity.
DKNG helped the trend line dating back to April. Though this is not too long of a historical trend, in my opinion this is still significant given that DKNG is still relatively new. We saw the reversal on November 2nd off that trend line, which gives me suspicion that DKNG can continue climbing back to the 50’s. We also have good momentum leading up on the MACD.
I’m looking to add more DKNG if we can reach 41.79 or 39.70 (possible downside) to average down on my shares. There is a chance we see a bit more downside before DKNG is primed.
At the close of Friday’s session (11/13), the price action fell in the volume shelf where the majority of this stock has traded in the last year. I’m looking at 45.50 and 47.42 as possible levels of resistance. There is a good chance DKNG will run up to 55’s if it can break these levels. The main catalyst I’m looking at is the restart of the NBA in December and the days leading up to the NFL playoffs. This is a good opportunity as a long term hold based on the potential of the next earnings season.
consolidation and longDKNG gave us very good TA patterns in past with huge pips earnmings. Last it played Head And Shoulders. Now in consolidation phase and my assumption it would go long
DKNGThey wouldn't V bounce it to $72...would they? I need $78 by March 15th so I wouldn't mind if they do.
Bullish hammer on the daily chart - potential support?We could see a reversal here - a second bullish candle with a higher higher and lows will support a reversal thesis. On Watch.
