$GNOG Golden Nugget Online Gaming and $RSI Ruth Street Interactive have traded roughly in the same range year to date up until $DKNG DraftKings announced its acquisition of GNOG on August 9th. There is currently about a 20% difference between the two stocks. Rumors have circulated of a possible acquisition of RSI by Flutter Entertainment $PDYPF. Rumors aside...
If it continues to hold this support, we are in for a perfect entry or call up to the top of the target. Let get it!
RSI Continuation trend. Support. Wedging. Should be beautiful
Ignore the triangle I drew, literally meant nothing. as well as the random ass line. lol
Golden Nuggy looks as if she's ready to start a little run towards the upside. Let me know your thoughts. Are you holding Golden Nugget, if so, how long have you been holding. What are your thoughts, what can you see GNOG reaching in the near term or later out. If your not a fan let me no why. Any particular reason or is it just not your flavor. Happy trading Everyone.
Previously, I stated that we see a reverse head & shoulders despite people calling it is normal head & shoulders and I was proven right as after last shoulder we followed the black line I have drawn.
Now once again, we arrived at the critical point, the bearish resistance upper channel (blue line). We have tested this part before and couldn`t break it. Once again...
Initially from the fist part, I thought it was a double bottom W formation and it worked till 16$ but couldn`t break the blue line that`s the resistance and went down again.
The good thing is it found the same resistance yesterday at 13.55 which is the bottom on the first wave.
Hence I firmly believe, as you can see from the black line I draw, we see a reverse...
stuck in this downtrend channel right now but has bounced off 11 support plenty of times in the past! look for a breakout of trendline before entering long though! target 16-18 after breakout confirmation :)
Before going to technical part of the story, you may want to check-out this quick read with highlights on David Katz (analyst from Jefferies) putting $28 target in next 12 months.
More here: finance.yahoo.com
Currently, the stock is hovering at key level 15.5 (YTD fib 0.23 and also IPO open).
I expect it to...
The weekly charts shows more down side...
I think if it does go down to $12 We could see some big action there.
If you have conviction for this play it might not be a bad idea to average in.
not a reccomendation to buy
Please do yourself a favor and deposit some money into Webull and buy at least 25 shares of this stock.
I listed some key buying points and the future for this stock is very positive.
Enjoy and trade safely
EOY PT - 60$
172,500,000 cash injection for warrants.
Jersey numbers the 16th.
Michigan numbers the 17th if it follows last month.
Earnings have to come this month by law.
We will break guidance easily.
We actually have profit unlike the rest of the sector.
The product won EGR North American operator of the year 4x straight ('17-2020)