DraftKings has been trading in a wide range since early 2024, oscillating between the $30 support zone and the $50 resistance area.
The price is once again approaching the lower boundary of this range, where buyers have historically stepped in.
Momentum indicators are entering attractive levels, suggesting that a potential swing setup could form soon.
However, earnings are due this week, so caution is warranted.
For those who like to take higher risk, an early entry before earnings could pay off if a rebound begins —
but it’s not what I recommend.
The more disciplined approach would be to wait for the earnings reaction, then evaluate a position on Friday, depending on how price behaves around this key support area.
As long as the lower range holds, this setup remains technically sound and could offer a solid risk/reward opportunity in the coming weeks.
The price is once again approaching the lower boundary of this range, where buyers have historically stepped in.
Momentum indicators are entering attractive levels, suggesting that a potential swing setup could form soon.
However, earnings are due this week, so caution is warranted.
For those who like to take higher risk, an early entry before earnings could pay off if a rebound begins —
but it’s not what I recommend.
The more disciplined approach would be to wait for the earnings reaction, then evaluate a position on Friday, depending on how price behaves around this key support area.
As long as the lower range holds, this setup remains technically sound and could offer a solid risk/reward opportunity in the coming weeks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.