After a nice rally leading up to the Super Bowl it looks like this beast has settled down, not much sports betting activity besides NBA and March Madness which would be a big one. After that I feel the stock price will see some flat movement and run based on states passing betting laws. Also keep in mind we have ER approaching soon so that will cause a possible run up. DKNG is currently in a downtrend channel and is looking primed to break out soon. We also have a gap down so keep in mind this could potentially go for that gap fill at 55. The Safest entry would be to wait for the breakout of the resistance line with significant volume for a confirmed sign of reversal. Now depending on market sentiment, we could see more room to the downside, where you could get a nice dip entry (buy zone located in chart) to long.
Ways to Play this: 1. Load Up Shares 2. Enter on breakout of downtrend resistance with month out calls 3. Buy on the dip if this goes for a gap fill 4. 2022 leaps
Option Ideas: low to high risk contracts (High OI and VOl, very liquid contracts so you can get filled easily) 60C 3/19 4.30 65C 3/19 2.57 60C 2/26 2.62 65C 2/26 1.05 60C 2/19 .57 (lotto) 62C 2/19 .21 (lotto)
@jUiCE_Trades, win big or go broke and sell the house. Lol!
Profit_Center
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At least DKNG is doing well.. brutal couple weeks.
jUiCE_Trades
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@Profit_Center, yes i think we see a pull back to fill that gap around 61-62 and we see one last push for march madness, after that not much sports betting activity besides UFC fights. Expecting some political news to help push this as well, states pushing for mobile betting would help this run.
jUiCE_Trades
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@jUiCE_Trades, and baseball but.... who bets on baseball
TradeAlchemy
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I really like this chart. SImilar - for some reason, I see 1-2 -i-ii on the weekly chart, but still a very bullish scenario. Thanks for sharing.