Hey everyone play on DKNG again here. Bullish on this stock for a few main reasons. I think this stock is very oversold along with many other stocks that have dipped during earnings.
My main reasons for liking this play on this stock are as follows:
- Dipped even after good earnings and great growth in sports betting - Oversold on RSI - Great Social Sentiment on the Stock - Good amount of volume moving in - 1.2 Risk vs Reward
Not much TA really backing the trade laid out some good supports and resistance for taking profits. Let me know what you guys think with a like or comment. Be sure to follow as well.
I agree. RSI is at 28, which is the lowest it's ever been. Last time it was close to this was 10/30 and the stock rebounded up dramatically the week after. MACD and Stochastics also seem like they want to turn around. Add that to the great earnings call, yearly revenue expectations increasing by 16%, and 2.8B cash on hand for expansion and it seems like all the pieces are in place for a large rebound.