Based off my previous DKNG chart, DKNG is pushing up towards the 55’s. I think with the impending 2nd lockdown coming, DKNG has a chance to have another bull run. Around the 3rd week of March when the national lockdowns began, we can see in the purple shaded rectangle, the lockdown seemed to serve as a catalyst in a bull run. As we also saw in August in the pink...
Potential for a move above the Fibonacci Golden pocket.
Longs need to look for resistance @ =
$53.00 - $54.00 at the fin Gp.
$55.80 - Gap fill
Above which the chart offers little resistance back to the ATH.
Volume resistance takes a major drop above $55.
Indicators and volume quite bullish.
7 MA offering strong support.
Hello everyone.
NASDAQ: DKNG daily chart support and resistance levels present. Clear uptrend given the growing interest in online gambling and bets. Sports and venues are coming back and Draftkings being an industry leader is well positioned to grow.
Timeframe: mid-term.
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Happy trading everyone.
DKNG has become the official betting partner for the upcoming Tyson fight, NBA on the way, Football still going on, DKNG is looking strong.
A recent break over the 49.9 resist and holding the trendline in the regression channel proves a good buy; January-March 50-55 calls look great!
All price levels are algo targets. Expect a reaction at every one of those.
Green= Buy, possible dip target to reenter long
Red= Sell, dip expected at those regions
White= Has to break to confirm following price target
Look for Draft Kings to find support around the $31 range before resuming higher. We have a head and shoulders pattern and we also have the 61% fibs providing confluence at market structure.
DNKG has looked to have found a bottom and began reversing off the 35 price level. The lockup period ended which was the primary driver of lower prices on DKNG. Had great earnings with increasing revenue expectations which gave it this nice push. Will look for it to consolidate and push higher back towards the 56 target level.
