Primary Chart : DraftKings Inc. Weekly Price Chart with Fibonacci Levels and Downward Trendline from All-Time Highs
DraftKings Inc., an innovative sports-betting company, has been one of the hottest stocks of this week after it beat earnings expectations and raised revenue guidance. Many are likely chasing the stock's price here without any discipline...
With another year of increased Revenues DraftKings is poised to see higher gains. " In August, DraftKings took the U.S. online gambling lead, according to a new study by prominent research entity Eilers & Krejcik Gaming, capturing 31% of overall gross gaming revenue compared to FanDuel’s 30%. " - frontofficesports.com
NASDAQ:DKNG DraftKings formed a Cup and Handle base and recently performed a successful check back to the neckline. It also broke out of a flag that could propel the stock further.
Upside targets:
$45
$50
$55
Downside risk:
$32
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DKNG
Price was in an uptrend from January '23 through July '23.
It then started to move sideways between July '23 and September '23, forming lower highs into the trendline.
The uptrend was finally broken in late September '23/early October '23.
Now, the price finds itself at the resistance level of the previous uptrend and at the downtrend line created by the...
In a bold move that merges the worlds of sports betting, advertising, and consumer engagement, DraftKings ( NASDAQ:DKNG ) and Tums have joined forces to roll out an inventive free-to-play game, "Tums Prop Bites," just in time for Super Bowl LVIII. This collaborative effort not only reflects the evolving landscape of sports betting but also underlines the creative...
DraftKings is an American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual...
Re-testing the breakout level.
I got the Hex code for the IBD bars, and added a RS rating, volume average, and 50 period simple moving average. I can't get the bar shape just right though.
Here's the link to the layout template: www.tradingview.com
DraftKings spent four months digesting a strong first half. Now after a rally and pullback, traders may see more upside in the sports-betting stock.
The first pattern on today’s chart is the August peak of $34.49. Strong earnings propelled DKNG through that level in the first half of November. It continued higher and pulled back, but is now trying to bounce in...
Watching and waiting for the price action to move up into the supply zone. Looking to buy puts if and when it reaches these labels.
Buy Puts: $38.88-39.17
DKNG continues to rise on macro pattern and has just exited the Gann box which typically signals extreme volatility up or down. The macro I am seeing shows bullish sentiments and so looks like we shall reach the resistance of the greater macro before pullback. The green arrow signals the culminating point and sell off region.
Well if you were able to hang on long enough and see the bigger picture. This is an update to the previous chart (same green target point- this hasnt moved). DKNG is approaching the C wave of this Crab Pattern. This is the wave were the action either begins or ends. In this case its just starting. I am seeing an intermediate Crab pattern (shown in yellow). This...
Doing a final look at the price action of DKNG and it seems we are in a huge cypher pattern. Price will need to kick back up and hold at 30 (magenta line). Its been my experience these patterns typically have the deep retracement and then rally back upside. They can be fast going up and then dramatically deceiving and slow coming down. The pattern terminates 37.55...
All stocks go thru 4 stages, sometimes each stage can last months or even years, and it's not always easy to recognize like it is on this chart.
Stage 1: Accumulation - buyers coming in stopping the down fall, and the stock starts trading sideways. (Wait)
Stage 2: Markup - Bullish phase, where traders and institutions start buying the up trend. (Buy)
Stage 3:...
DraftKings has been hanging out around the 30 handle for months now but I think there's a chance it may be ready to break 30 and probe higher prices. We'll see how things play out, good luck traders!
