ashainp

Betting on Draftkings : Oversold+signs of recovery $DKNG

Long
NASDAQ:DKNG   DraftKings Inc
FA,
- Market cap : 16BN. Global TAM : 70BN
- Top rated app(4.8/5)
- Currently in 7 states(12% of US population). 19 states with mobile legislation while ,majority are still being considered
- iGaming CAGR New Jersey (2014-2018)- 25%
- Products : Daily fantasy sports, Sportsbook,iGaming.
- Building a great brand.
-Personalized experience
-History of track record = More data.
- Michael Jordan as special advisor. GOAT
- Habits picked up from Covid lockdown


TA,
- RSI oversold. 36. Rising up
- Closed above downtrend on 4H
- Short interest 23%

Entry: 43
PT1:50.5
SL: 40 .2 (6.5% max loss)
Short term Swing

Risks,
- High volume during pullback
- Hasn't closed above downtrend on daily
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