DKNG looks to be forming a Cup & Handle pattern. This may be the start of the handle formation. Appears to be topped out at this $72. Looks like it will move to a short term downside to $65 before heading higher to new highs.
Short Term Target: Pullback to $66-65 based on 61.80% fib level
Love your analysis and completely agree! Just wish I saw your chart before drawing my own! Lol
nataliegarces
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@mscottdawson draft kings announced offering this morning which sent the stock down temporarily but buyers are strong in this one and completely bought the dip!
mscottdawson
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@nataliegarces, Yes! Ugh! This is the second time DKNG has made it hard for the stock to break in higher territory! When all the early investors cashed out like Robert Kraft it took a while for the stock to recover. Hopefully this new offering will not drag down the technicals to far. I am fearful of large market correction, before DKNG breaks above 75/share. DKNG started the day strong but seem to go down at the close without a fight! :-(
vinyth
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Looks like the handle and ride back up to highs is completed. Are we looking at a breakout?