What's next for DKNG? I'll be providing two other posts, please make sure you check those out as well after reading this. There's a lot of juice behind this stock right now. As you can see from the chart, DKNG had a clear breakthrough below the 200 day SMA. This line of support had massive volume (VPVR) at the 51 level, the 200 day SMA line at 51, as well as...
DKNG 4HR Chart- DKNG had a nice falling wedge breakout with decent volume and a strong close above 58. With earnings approaching as a catalyst, we could see more upside. Would like to see price form higher lows with this current break of the downtrend. A break and hold above 60.50-61 level and we could see nice rally to February highs of 64.70-65. Keep gambling...
I think PENN is oversold. The country is reopening and sports will be back in a BIG way. And do you know what's bigger than sports? SPORTS BETTING! PENN Nationals merger with Barstool Sports, a media company with hardcore sports fans was an end game move! They will be the biggest and lead the way for other sport betting companies. Sports betting will be legal in...
DKNG 1HR CHART... After a strong sell off from reaching ATH, we seen some bullish momentum in the past 2 weeks with a strong close on Thursday. March Madness championship is Monday April 5th, so a potential catalyst to help this momentum continue. Expecting to see some bullish price action early this week and sell the news with sports activity decreasing....
$PENN sitting at the bottom of its range giving us entry for continuation on its current uptrend. We like entry here at golden pocket aiming for previous ATH.
On bearish days like we’ve had lately, it can be useful to look for stocks lurking near highs because they often break out when calm returns. DraftKings seems to fit that bill. First, consider how the sports-betting stock formed a large bullish ascending triangle between early October and late February. Notice how it began the current month with a breakout...
$DKNG update wave 3 of 3 target hit, could see a retrace to my .618 which fills that gap at 62, I can see one more push towards mid march once this correction is in, after this month not much sports activity going on but news with gambling (laws, app features, partnerships) can push this. Short target: 60 Long Target: 75+ ($100 stock long term)
My buy zone and target for $DKNG (Not financial advice)
DKNG traded up in the parallel channel and nearly hit the projected target. Based on the TTM squeeze indicator it looks like it is just building strength to take off. MACD signals buy as well. Fundamentals: They just beat on revenue on their latest earnings. They continue to grow paying-customers. More states are legalizing giving it a tailwind. This stock could...
After a nice rally leading up to the Super Bowl it looks like this beast has settled down, not much sports betting activity besides NBA and March Madness which would be a big one. After that I feel the stock price will see some flat movement and run based on states passing betting laws. Also keep in mind we have ER approaching soon so that will cause a possible...
DKNG has contended with its previous high which bodes well for future performance. It's a very low probability event that any stock, commodity, or other financial assets break through a previous resistance without first contending with it. DKNG has carried on trend, and so far Cathie Woods hasn't picked a bad egg. Expect some legs on this trade, especially after...
Ark just added DKNG to its ARKK fund which is extremely popular in terms of inflows and performance. This should create a floor for DKNG to really start to build up its share price. With the support, DKNG should head towards $80 a share. Earnings are right around the corner and this quarter is like their holiday season; the Superbowl, the largest sports betting...
For anyone who remembers the death spiral of March 2020 with $DKNG trading at $10.60 and $PENN trading as low as $3.75 you are either riding the wave or watching in wonder. Even with the impossible runs both have taken off their 2020 lows many debate where this “sports betting” trade will go? Some points of consideration: Size of Market Since the PASPA repeal...
Draft king is a fairly new player on the market through a SPAC merger with Diamond Eagle acquisition corp, and it's an American sport betting operator and it even allows users to make bets on players' performances in all major sports. In the list of investors, we can find names like the legendary Michal Jordan who is acting as a board advisor for the company as...
DKNG bullish update - With sports betting activity increasing these upcoming months and legalization of mobile/ sports betting through out states, Im expecting a big move for DKNG soon. My in depth analysis on my previous ideas. Trading Idea annotated in the chart.
In depth chart linked at the bottom, holding above that downtrend resistance line lets see what tomorrow has in store for us, if we can hold above 52 overall move is to 57
DKNG if it can hold above 52.50 I'm looking at 57 short term and an overall move to retest to ATH. Last time we were at 63.91 we took a big hit due to pandemic pressure. Couple catalyst to keep this pushing, Super Bowl, NBA, March Madness, on top of states pushing to allow mobile betting. Wouldn't hurt to add here for a long term hold on option contracts that exp...
If Dkng can hold above 47 Im seeing a retest of 50, under 47 I'm seeing a bounce around 44.70 for an EW 1-2 setup. Under 44 its going down to my major wave 2 target at 42. Keep in mind we can see some blood today with the GA Senate runoff (market uncertainty). So scale in on these dips! So much to look forward to this month expecting a minor sell off with 2021...