DKNG 4HR Chart-
DKNG had a nice falling wedge breakout with decent volume and a strong close above 58. With earnings approaching as a catalyst, we could see more upside. Would like to see price form higher lows with this current break of the downtrend. A break and hold above 60.50-61 level and we could see nice rally to February highs of 64.70-65. Keep gambling...
Entry: $60.50
Take Profit: $64.50
Stop Loss: $59.50
Validation:
- Rejected off Strong Support around $58
- Crossed above 8 EMA
- MACD about to cross up to green very soon
DKNG 1HR CHART...
After a strong sell off from reaching ATH, we seen some bullish momentum in the past 2 weeks with a strong close on Thursday. March Madness championship is Monday April 5th, so a potential catalyst to help this momentum continue. Expecting to see some bullish price action early this week and sell the news with sports activity decreasing....
$DKNG update wave 3 of 3 target hit, could see a retrace to my .618 which fills that gap at 62, I can see one more push towards mid march once this correction is in, after this month not much sports activity going on but news with gambling (laws, app features, partnerships) can push this.
Short target: 60
Long Target: 75+ ($100 stock long term)
Potential Price targets based on pitchfork into next earnings. Just hypothetical if the bullish trend continues.
High Range: $79.61 to $87.34
Median: $79.61
Low Range: $70.95 to $79.61
DKNG raised its revenue outlook for the FY2021 from a range of $750 million to $850 million to a range of $900 million to $1 billion.
After a nice rally leading up to the Super Bowl it looks like this beast has settled down, not much sports betting activity besides NBA and March Madness which would be a big one. After that I feel the stock price will see some flat movement and run based on states passing betting laws. Also keep in mind we have ER approaching soon so that will cause a possible...
As we can see, Draftkings is finally waking up after months of healthy consolidation. Look for this stock to surge upwards in price in the near future, besides the profitability of the sports betting industry - here is my reasoning. Price testing at the final Fibonacci level the .236 (roughly $57.26 price level) shows this bullish divergence and once it breaks...
DKNG bullish update - With sports betting activity increasing these upcoming months and legalization of mobile/ sports betting through out states, Im expecting a big move for DKNG soon. My in depth analysis on my previous ideas. Trading Idea annotated in the chart.
- DKNG looking like a huge triangle to the upside.
- It also looks like a possible IHS.
- Catalyst coming up is the super bowl be cautious as it could be a huge HS and bee sell the news.
- If this triangle breaks out to the upside it will be a huge move!
In depth chart linked at the bottom, holding above that downtrend resistance line lets see what tomorrow has in store for us, if we can hold above 52 overall move is to 57
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 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...
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 invere h&s watching for reversal here, over 52 we could see some bullish movement this week.
safe play: 55 C (1/8 or 1/15) good liquidity on both contracts
lotto/ day trade option: 55C 12/31 .58 or 60C 12/31 .10 (both contracts have great liquidity)
