Obviously the major turning point would be if sports games get shut down - they probably won't do it now to force the series to go through but after that is all fair play. Looking at a possible B wave bounce then back down
Investors are beginning to get spooked out of their shares due to multiple factors: COVID-19 Positive Test Results in the NFL and PIPE Shares officially becoming unlocked. Shareholders are forgetting the Major Supporting Catalysts to this company: -Exclusive Deal with ESPN/Disney -Becoming an exclusive partner to multiple Professional Sports Teams and Leagues...
DKNG next support is near 35-36 we could see more bloodshed this week with covid cases and negative stimulus talk, If DKNG can hold above 40 we will see a strong move up but volume is low, under 20 day ema, i wouldn't play calls for short term. perfect opportunity to add shares or play puts!
My previous chart was spot on. (Link is below) Looks like it bottomed at $40 and returned to its channel. Fibs are key points to break a candle over. I believe we will hit around $49-$50 for earnings(Nov 12) and then head back down to $44-$45. Q2 earnings were horrible so be prepared for the pullback the day before the report.
DKNG long entry on the break of the falling wedge structure. Daily time frame printed a bullish hammer candle on the 100 moving average which is also confluent with a previous support level and .707 Fibonacci retracement level. Stop Loss: Daily close below 40.43 Target 1: 40.36 Target 2: 52.13 Target 3: 56.78 (gap fill)
DKNG holding above support good price here to add for long term portfolio. At the bottom of my channel with lots of upside room for it to run up. Keep in mind if any sports(NFL, MLB, etc.) were to cancel there season it will drop, but sports betting will always be around! Shares long term and 2022-2023 exp leaps will print for options.
My Updated Buy Zone and Targets for $DKNG (Not financial advice)
After -36% almost non-stop in 17 days, we are back in the zone with potential supports (and reasons for the drop to stop). Here is how we could look at a reversal : VOLUME : Since Oct 13th, went from very small volume to 3x volume size on the 20th (highest daily volume for DKNG, all-time), after which it dropped by half. This is a "movement-ending volume". The...
$DKNG imminent bounce ahead. Sitting on lots of support right here. First PT: $44.7 Then watch possible PT2: $54.5
Title says it, long term trend has been solid support. Will hold until gap is filled near $55 to $56
keeping watch - near term covid sports headline risk - mid-term I am bullish.
I just updated the post below explaining the importance of finding stocks with relative strength in market weakness (click the chart and scroll all the way down for the update). DKNG is a stock I've kept my eye on all day today and initiated long positions at 42.50, 43.3, and 43.70. This is my last analysis on DKNG:
Healthy uptrend with 40% retracement with a bullish pin bar and heavy buying volume entry signal. It is a good buy and hold stock.
Scouting a potential short-covering event. Inverse H&S on watch.