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streetgainer
May 18, 2020 8:47 PM

DKNG A Clear Path to $100 Long

DraftKings Inc.NASDAQ

Description

No debt, yoy PAID subscriber growth. Expanding platform. This will be $100 by Jan 2021
Calls bought

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Those who bought ATM leap calls when I posted this are well rewarded now. I expect those call premiums to be at least $70 in the money by exp.

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We should see the first area of confluence at around $44, don’t get shaken as it will get a healthy rejection.

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The $44 area I spoke has validated...

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Now that our first top has been defined we place a retrace fib to lend some insight as to where it may pull back to and also, where support (programmed buys) may from if necessary. Here it's $36.79 which is the 23.6% fib retrace....

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If you bought leap calls, you are now seeing your premium profits explode to the upside!
Comments
JakeBrandonCastro
that's not how you use Fibs
streetgainer
@JakeBrandonCastro, It certainly can be used this way, my top target is $100, which the extension, not the *retracement*
streetgainer
@JakeBrandonCastro, See how perfectly the "extension" usage of the fib worked out?
what a trade!
Michael_Jaxson
Going back up?
Michael_Jaxson
Too late for Jan 22 leaps?
streetgainer
@Michael_Jaxson, They're much more expensive now. You'll have to decide.
dryanhawley
looks like a winner.
streetgainer
@dryanhawley, I think so too.
Cbnyc
what strike did you buy your calls at and for how much if you don't mind me asking?
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