DKNG continues to rise on macro pattern and has just exited the Gann box which typically signals extreme volatility up or down. The macro I am seeing shows bullish sentiments and so looks like we shall reach the resistance of the greater macro before pullback. The green arrow signals the culminating point and sell off region.
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expecting price potential of at least 40.00 on the break out
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DKNG just broke a prior high from the 6th of June, and I think we begin to see fireworks from here! Expect fast moving upside swing.
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I dont want to see price go below 25.00 if so then there may be a new pattern forming or additional downside. Stay tuned. Outside of this, the price is expected to rise considerably. Something odd would need to occur in markets for a lower than 25 price.
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All eyes right here.. the upmove I am expecting to be swift. A perfect time for this would be after the July 4th holiday.
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Just got confirmation of upswing candles! Time for takeoff. Look for price action to stay above 26.80
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Post Market price 26.80 - we may see big rally on Monday for this ticker. Stay tuned
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Liftoff.. good opening candle brining up to 28 from 25... still a lot more meat on the bone here.
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Expect possible price relief and reversal around 30 dollars.
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Careful here.. price consolidation at 30.40... Id expect a drop from current levels on Friday to 30.40, and then re-rally to begin early next week. Still long, but take your profits, dont be greedy.
A small Gartley pattern forming on DKNG as a secondary to larger bullish patterns. Breakout should be today.
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Strong barcoding at this current close today and so support is being established well here. Didnt get the move up in regular trading hours. Anything that holds or projects back up above 31.00 is bullish. We may just get the gap up in the am- lets wait and see.
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DKNG gave us a shake up.. but the algos def were stop hunting. I am confident at this stage we can get to 32.90 before we see some sort of retracement for a larger move up..but the reversal may be bigger than expected at 32.90.. and so I suggest taking profits at that price point.
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Multiple failures at 31.14 mark. Be very careful here as price swings down.. could dump here. I am going to settle back and get a better entry. Prince could have a big pull back at this stage due to the multiple failures to pierce thru 31.14 mark.
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Nice pop up. Pre market price 31.05, but this is just the bait to get folks in before it dumps lower. Higher prices yet to come. Resettling of price will then deliver the swing back up over longer period of time.
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Price has no gone back below the resistive point of 31.00 - not a good place to be if your long. I think additional downside continues.
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31.00 is the magic number.
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Good gains in the am.. a micropattern is consolidating and post market prices are sustaining! Looks good for Tuesday for a gap up.
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No gap up today.. in fact we are down and didnt get back to 31.00 - approaching earnings day.. Right now doesnt look good. This could be that pull back I was expecting to 28.00. Set your stops or be ready for some surprises here.
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Long "do nothing" day. Price held at 30 for most of the day... but post market prices reflect a good earnings report. Post market as high as 32.60 hinting of good earnings!!
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Post price 34.14 We have liftoff!
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Good profits to be taken if you woke up at 8:30 and sold at 8:30:10 lol.. The price action has retraced, but we are back to the good ole 31.00 price point again. This seems to be the magic support level and so if you looking to get in again.. or even if you took profits and want to double down. 31.00 point looks promising before we get to 40.00. I did not sell at todays open and want to hold position on the way up. See you there!
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Post market plummet to 30.00
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Aug 2nd comment called for a big healthy pullback.. hovering around 28.80 right now post market. Price down, but it is not necessarily over for this run.
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Big pullback today. This is good to see- esp. considering the price target on this chart. I was skeptical before this retracement that we weren't going to make it to 40, but now I believe I can see the start of a new bigger macro pattern which delivers price up to the mark we need to be at, but expect possible pullback to 23.00 if so. I am not going to post it until I can get better confirmation. So right now I have 2,3 patterns signaling the same target point of approx 40-41 dollars. Based on what I see this may not materialize until end of Aug- early Sept. The question is the pullbacks. If everything plays out as I see it now. Price SHOULD NOT go below 28.50- the green Gann line where the candle wick occurred. If it does, I would expect 23.20 the lower red Gann line (not shown here) to be the next support before we go back upside. If the upper support of 28.50 is maintained then this could be really good in altering the overall upper target levels well above 41 dollars. If we go back to 23.20 (or worst case 18.70)- then 40-41 dollars is a very reachable and justified target (which I am expecting). I cant rule out a 18.70 pullback (its too early). If there is no support at 28.50, we go lower. Just have to sit tight and watch the action for now, but just mentioning some things to consider here.
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small preface to above (as of right now)- ANY.. and I mean any price action above 31.00 should result in an early and strong bullish move. Any rejection from 31.00- see the above comment for pullback targets. Ill update as things progress.. Keep in mind all of this action is well within the scope of this chart.
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Healthy bounce off the blue line which represents support off the Gann Square drawn...
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Price action still looking good here.
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Good swing on DKNG today... things should get spicy above 31.60. Pattern holding true to form. There are other micropatterns I have posted on this but this was the original main pattern. Looks good.
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UPDATING the price target as I didnt see the 3/1 Gann line earlier. New Price Target is 37-38 dollars. Be ready for a still pull back after this is reached. Its been a good run!
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UBS Raises DraftKings Price Target to $44 From $39, Maintains Buy Rating
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How sweet it is.. looks like we just reached the top of the Cypher pattern. I am still debating if this is the top of the macro pattern (if not) its very close.. but expect a pullback after the 36.85 top today. I sold some shares at 36.80. I am going to wait and see what develops as the price consolidates around 35.00- could go lower. This has been a very good profit making chart for those who got in back on the original chart posted back in June. We have been holding that long to finally get close to pattern completion. Kudos to the Winners!
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pattern top completed, There may be further upside, but due to the pattern in play (confirmed) Cypher.. this is going to be a slow long haul back upside if it does not do so in the next 24/48 hrs. Profits should have been taken by now to reinvest in other things while DKNG takes a break.
Long. Been long since 2022. Love this name and where this company is headed. Can be HUGE one day 100-150+ sp
markn
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I bought my last 50% here at $29.88 average, I got in. LEts watch this show now!
Moorsc0de
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@markn, Good buy.. yea this hopefully looks like an epic stop hunt mission before earnings. If not, could get ugly. Anything over 31.00 by end of the day will be a good sign of us going up though.
robvs98
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how can anybody understand this mess called a chart?
Moorsc0de
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@robvs98, if u can see the green arrow thats all you really need to understand- short of asking questions to anything else,... the items in this chart isnt for everyone. Esp ppl like yourself.. hence why its there. Maybe you understand maybe you dont. Seems like the latter.
markn
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I have been hearing good things about Draftkings. I bought in for 50% of my total allocated position already and expect to see a 40-50% + by Feb 2024. Nice Post!
What’s your thoughts on this considering the penn/espn deal?
markn
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Nice earnings! Love the movement too. congrats all , whats the chart look like now? I see $36-$39 area.
markn
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Seems like a great bounce off the 200 MA . It is doing exactly what we thought would happen pre-earnings. I almost got my other buy-in today but missed it. 1 hour candle could look really good if this closes near old high correct?