One of the nicest setups out there right now. Won the battle at the volume shelf. Ascending triangle with advanced MACD breakout. Should steadily climb back up to retest ATH over the next couple months.
Draftkings had a major red day -8.00% today, which has it sitting at an old support level that it's touched over 4 times.
If DKNG manages to maintain below 58.30 today, we could get in for puts to $56
Next SL point is $56
$DKNG looks to be forming a Cup & Handle pattern. This may be the start of the handle formation.
Appears to be topped out at this $72. Looks like it will move to a short term downside to $65 before heading higher to new highs.
Short Term Target: Pullback to $66-65 based on 61.80% fib level
Support: $65, $70
So everybody seems to be buying the Draft Kings hype lately. I've been told there's a Cup and Handle forming up, good deals ahead, and so on and so forth.
From the way I see it this is a time with too much uncertainty in the long term. And I think we can see that reflected on the stock price.
- First we can see two trends, in yellow, forming a symmetrical...
DKNG is currently correcting. Yes, there is a lot to look at here, but just watch the Elliott Wave count and the trendlines. It broke a 2 month uptrend line yesterday, retested, and came back again. It has finished the overall upward Wave 1 move (made of 5 waves), and is now correcting down to one of the 4 green support fibs I've drawn. The 4 supports drawn are...
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...