As shown on the daily chart DKNG has been on a clean rise this entire year now up 100% over
the first six months. An earnings report is due in about three weeks. Sports betting
may have some seasonability and most of all collegiate and professional sports are in the
off season at this time. No matter, the chart shows a steady rise since the last earnings
( small) beat in an ascending channel between two and three standard deviations above
the mean VWAP anchored one year ago. The MTF RSI indicator of Chris Moody shows both
RSIs at about 70 and so not overbought. Trading volumes are steady and consistent. The
relative volatility indicator shows some increases in the past 9-10 trading days. Overall,
I believe that DKNG is suitable for a long swing trade which I will close just before
earnings.
the first six months. An earnings report is due in about three weeks. Sports betting
may have some seasonability and most of all collegiate and professional sports are in the
off season at this time. No matter, the chart shows a steady rise since the last earnings
( small) beat in an ascending channel between two and three standard deviations above
the mean VWAP anchored one year ago. The MTF RSI indicator of Chris Moody shows both
RSIs at about 70 and so not overbought. Trading volumes are steady and consistent. The
relative volatility indicator shows some increases in the past 9-10 trading days. Overall,
I believe that DKNG is suitable for a long swing trade which I will close just before
earnings.
Trade active:
Got back in the long position with the lows at the trendline near to the close of
the trading day.
the trading day.