As of today I am long DKNG. It looks to be forming an inverse head and shoulders, and is currently completing the second shoulder. If it falls below $17.70 this will likely invalidate the trade and I will cut my losses. Short term PT is $24 - I will make a call then about whether I think it will break through what seems to be extremely strong resistance at those levels. I'm seeing large bullish divergence on multiple indicators on multiple time frames.
Do your own DD.
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This went bust fast. We did see 15s as I anticipated. I'm not sure this is bottom, I will be waiting to take another stab at this.
@k3vl4r_DNN, love it, I tripled down in the low 17s! GL!
aaronrtan
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Not yet. Wait for MACD turn around, $17's.
stonkasaurusrex
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@aaronrtan, everything is close enough for me to pull the trigger. MACD is right there. This will likely fall into the high 17s but I don't think it goes below that. If it falls into the mid or lower 17s I'll be exiting my position and waiting for another entry point because we will likely see 15s in that scenario.
aaronrtan
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@stonkasaurusrex, I was expecting a turn around at $17's, Now I am expecting $11. The formations I am looking into are all broken. I will be buying some puts for the short term.