DKNG x Falling Wedge x History Is Repeating Itself
History
- June 9th, 2020 - Aug 5th 2020 = Falling Wedge
- Aug 25th, 2020 DKNG broke out of the falling wedge
- Aug 25th - Oct 2nd, 2020, DKNG had a market cycle of 81% gain
Present Day
- June 9th, 2021 - Aug 5th, 2021 = Falling Wedge
- Aug 6th, 2021, DKNG broke out of the falling wedge
Analysis
- If we overlap ghost bars from Aug 25th, 2020 - Oct 2, 2020 (previous market hype cycle) then DKNG should peak around $82 early October before pulling back all the way to $53. With football season approaching in September, and the fall approaching, more people will be watching tv to entertain their selves and also stay warm as the weather will be getting colder.
DKNG is also expanding beyond just football. DraftKings (DKNG) on Tuesday entered into a multi-year agreement with Simplebet to launch a real-money micro-betting service across DraftKings Sportsbook.
The agreement will allow DraftKing to offer to its customers micro-betting products for the NFL, MLB and NBA, as well as a new suite of college football products, according to a statement.
The more things change, the more they stay the same. Let's watch history repeat itself and trade on the right side of the smart money, realize gains when the hype cycle reaches it's peak, and double our position size at the bottom of the pullback.
- June 9th, 2020 - Aug 5th 2020 = Falling Wedge
- Aug 25th, 2020 DKNG broke out of the falling wedge
- Aug 25th - Oct 2nd, 2020, DKNG had a market cycle of 81% gain
Present Day
- June 9th, 2021 - Aug 5th, 2021 = Falling Wedge
- Aug 6th, 2021, DKNG broke out of the falling wedge
Analysis
- If we overlap ghost bars from Aug 25th, 2020 - Oct 2, 2020 (previous market hype cycle) then DKNG should peak around $82 early October before pulling back all the way to $53. With football season approaching in September, and the fall approaching, more people will be watching tv to entertain their selves and also stay warm as the weather will be getting colder.
DKNG is also expanding beyond just football. DraftKings (DKNG) on Tuesday entered into a multi-year agreement with Simplebet to launch a real-money micro-betting service across DraftKings Sportsbook.
The agreement will allow DraftKing to offer to its customers micro-betting products for the NFL, MLB and NBA, as well as a new suite of college football products, according to a statement.
The more things change, the more they stay the same. Let's watch history repeat itself and trade on the right side of the smart money, realize gains when the hype cycle reaches it's peak, and double our position size at the bottom of the pullback.
Comment:
DKNG x NFT'S
In Honor of Derek Jeter's Hall of Fame Induction, Autograph to Drop Exclusive NFTs on DraftKings Marketplace
finance.yahoo.com/ne...-fame-113000246.html
In Honor of Derek Jeter's Hall of Fame Induction, Autograph to Drop Exclusive NFTs on DraftKings Marketplace
finance.yahoo.com/ne...-fame-113000246.html
ibb.co/myrHLyF