I like DKNG here. The price is breaking over the 10sma. The 10sma has crossed up over the 13ema. If we close above the 10sma its a buy. I'm starting early. Probably set a stop below yesterdays low.
BREAK OUT. TOMORROW PROBABLY GET BACK TEST AND CLOSE THE GAP THAT WE CREATED TODAY IF THIS HOLDS. BUT LOOKING GOOD SO FAR !
$DKNG After Perfect 50% Retrace - Ride back to $35+ Bullish hammer candle developing on the daily chart. Near term price target: $35.00-$36.00 range
SHOWING BULL DIVERGENCE ON BOTH OSCILLATORS ON 4 hr
Wicking off the .5 currently. Let’s see if it holds.
APPROACHING .50 RETRACE. I HAVE A TARGET OF 26.35 ISH TO SUPPORT LINE ? LET'S SEE WHAT HAPPENS. BOUT TO BE OVERSOLD ON DAILY AS WELL.
Based on the structure I'm seeing with DKNG I think it potentially develops an H&S construction. Whether it does or not, I think current levels are a good entry point.
STILL NOT MAKING HIGHER HIGHS. LOWER FIB LEVELS IN PLAY.
DOUBLE TEST OF .382 fib IS ALL IT TOOK ? PRICE ACTION SEEMS LIKE IT SO FAR !
BROKE STRUCTURE....LET'S SEE WHAT KIND OF FOLLOW THRU PRICE ACTION WE GET IN THE NEXT WEEK OR SO.
LAST ONE. THIS LOOK MAKES A LOT OF SENSE TO ME AT THIS TIME.
COULD BE BACK TEST ON BASE LINE OF DOUBLE TOP PATTERN. KEEP CLOSE EYE OUT. THE MEASURED MOVE OF THE BASELINE BREAK IS JUST UNDER 27.00 . BE CAREFUL
Reversal from this level is high probability. I like the LONG here.
DKNG CURRENT POSITION (Friday Entry) = 21AUG20 35c x10 @4.90 Adding to position with shares and/or options if it dips to 31 (100ema 4hr). Building a long-term position to hodl but will also continue to swing and scalp as long as it gives us that pleasure. The Inverted Head & Shoulders is obviously purely speculation but technically speaking it is setting up for...
ON LOWER TIME FRAME.....DOWNWARD WEDGE TOUCHED FIRST FIB TARGET SHOWING BULLISH DIVERGENCE ON ONE OSCILLATOR.