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EZmoney24
Oct 11, 2022 2:36 AM

dkng bull flag Long

DraftKings Inc.NASDAQ

Description

Looking through some charts and noticed a bull flag forming in DKNG. Provided the overall market doesn't implode over the next couple days, I'm thinking it fights its way back up into the 16s not expecting it to break out of the flag formation but definitely possible/likely to test the top of the channel imo. Nice volume gap from here all the way up to the 16s area doesn't provide a ton of resistance. One issue I am seeing is the IV on the options contracts is very high. No position currently but will keep on watch and look to play it if the set-up stays the same. Not financial advice!
Comments
EZmoney24
I forgot about this post tbh no gap down and its spot on. Oh well I didn't end up playing this anyway focused on the leaders of the market.
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