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DRAFTKINGS INC COM USD0.0001 CL ADRAFTKINGS INC COM USD0.0001 CL ADRAFTKINGS INC COM USD0.0001 CL A

DRAFTKINGS INC COM USD0.0001 CL A

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DKNG long term accumulation periodSo 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 triangle that broke downwards on December 28th. - Price is directly testing that 50 MA (red line). Moving averages act as a good form of dynamic areas of support and resistance. Just by looking at previous price history we can see that every time bulls failed to hold that level at the 50 MA, prices fell down dramatically for a considerable period, and conversely when bears didn't hold that spot, bulls started rallying. - We have several indicators already, or about to be, giving bearish signals (MACD, RSI, Stochastic). On my screen, we can see the price falling and currently trading inside the Ichimoku cloud. My take is that if we lose this level of weekly support, which coincides with the 50 MA support, price is gonna keep dropping steadily for a while. We need just another failed retest of that descending trend-line acting as resistance (yellow) to confirm this theory - which is also forming a descending triangle. In cyan blue arrows the path I think price is gonna follow. I believe that if we do form a descending triangle it's gonna signal a price continuation - best time to buy is gonna be when price squeezes near the end of the formation. Could be wrong. Maybe the hype is real. Maybe that decline of volume over time is signaling a local bottom on that weekly support. We'll see. Best of luck, lads.
NASDAQ:DKNGShort
by Crypto_boi
Ark just added DKNG; go longArk 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 event of the year. They are going to knock the cover off the ball. Expect a lot of options activity around that time which should help to provide a slight gamma squeeze. Fundamentally, they are beginning to penetrate new markets and take share from the black market as more states legalize. It's truly all downhill from here from Draftkings. Best pureplay on Sportsbetting/Sportsbooks. If Ark and Cathy Woods a.k.a. the "Money Tree" are throwing their weight and reputations behind DKNG, I would NOT hesitate to follow. Buy under: $65 Midpoint to sell half: $80. Long-term price target: $100.
NASDAQ:DKNGLong
by EBITDAtiger
5
$DKNG and $PENN - Betting on BettingFor 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 in May 2018 approximately 50% of the U.S. has some form of legalized sports betting. This number is a little misleading as a state like New York is included even with the very limited access to betting markets through Tribal agreements. When you consider California from a strictly GDP perspective you are talking about an economy roughly the size of the U.K.. And when you look at California, Texas, New York and Florida which are all starting to lean into true legalization conversations you are talking about 36% of U.S. GDP in those four states alone. The other major component when trying to figure out total addressable market is the black or grey market for sports betting. The legalization of sports betting did not create a new market for sports bettors, it simply created access to one onshore in the U.S.. The debate for how big the black market is a fair one and only one part of it, the other is how long until it can be migrated onshore if at all. When looking at market caps and market share it is clear that the original assumptions of the market were too small and are a major reason for the sustained push higher in the gaming sector with $DKNG and $PENN clearly out performing. As new states come on it should make you reconsider the true size the market to better align price targets. Nielsen 2.0 Many debate the true value of both $DKNG and $PENN because those familiar with the sports betting industry understand that a sports book typically is a very low margin business (5-6%) that requires major expenses to acquire new customers with cost per acquisition being reported well over $1,000 per depositing player. If we take a step back and look at what a digital solution will offer operators we can begin to see the forest through the trees in how sports book and large gaming operators will be positioning themselves over the next 3-5 years. In one word, data. If we fast forward to 2025, who will know more about the sports fan than $DKNG and $PENN? Who will have access to mold and monetize the fan experience? When I was a kid I would watch Sportscenter on repeat. Today, these companies know every key stroke we make. The value of that data defines the true value of these companies in my opinion. Conclusion If you stop to consider both $DKNG or $PENN as marketing companies who are attracting players for other products like igaming or hospitality you can begin to see a true path to what I believe they are working towards. The recent M&A across the gaming and media space is a lesson in effective distribution. The momentum has been started with COVID and the March 2020 lows with digital channels becoming critical to future success. The sports betting trade continues to be bullish as it will lead to much more than a single bet. Remember, as the old time gamblers will tell you, “sports betting is only the thing that gets you the thing”. Author Scott San Emeterio CEO, BallStreet Trading - Hosting real-time markets on live sporting events. Real-Time Super Bowl Markets with Top 100 traders winning $20 each - Free to Play
NASDAQ:DKNG
by playBallStreet
31
❤️‍🔥 DraftKings: The Future Looks Good ❤️‍🔥❤️‍🔥 DraftKings: The Future Looks Good ❤️‍🔥 After rallying more than 40% since the start of 2021, the question comes to mind if $DKNG (Draftkings Inc) is getting overbought. We have seen many other titles in the consumer/technology space cool off significantly. But DraftKings seems to be going up without looking back. So if you're long as me, should you perhaps start taking some profits? If you missed he recent rally, does it make sense to still get in? I try to answer these questions here from my point of view. Full disclosure, I'm in a long position since 26 January and have added to my position on two occasions. And I might add even further as I will explain below. My initial position was a pure breakout trade from a level formed by gap resistance since 7 October 2020 and two reactions since mid December. One reference point I'm paying close attention to is $64.2 as that's where price reacted strongly to the downside in October last year. The structure leading up to this level now is a series of higher lows and I want to see this area broken to the upside for further continuation. But it's not only technical factors this trade is based on. DraftKings actually has plenty of fundamentals supporting a long trade. Let's summarize: 🧑‍🤝‍🧑 Earlier this year, two new markets have opened up for DraftKings (Michigan and Virginia). These combined cover 6% of the US population. 🏈 Super Bowl is coming up and that means heavy sports betting. $500 million in legal wagers is expected to be placed this year on the Super Bowl alone, up 60% YoY. 💰 Debt free balance sheet and significant war chest with cash to spend aggressively on customer acquisition. ⚖️ Legalization of sports betting across large markets in the US is a very real possibility. Especially as covid related budget deficits will need to be dealt with. 📊 Venturing into opportunities outside of sports betting. For example through the acquisition of SB Tech, DraftKings now operates state lotteries in many European countries. 📈 DraftKings' current $866 million revenue forecast for FY21 is still a fraction of its revenue potential within the next several years. Stay tuned for guidance and Q4 earnings on 26 February. 📝 Summary 📝 I'm long DraftKings and I'm planning to add upon successful break of the $64.2 level. Yes I'm well aware the current valuation is a bit rich from a pure value investing perspective. But the interest fueling the recent rally is really based on future growth prospects. And as summarized above, the future looks good. My mid-term profit targets would be $75-80 and then $90-100.
NASDAQ:DKNGLong
by RonnyNilsson
2
DraftKings Price action predictionhi guys, So my ascending triangle play is in action. (PLEASE SEE BELOW FOR LINK TO THAT) My opinion on the price action is that we are still going towards the neon green line which i believe to be heavy resistance as shown if you look left on previous higher high. I believe before we can move past the Green Neon resistance / target zone we need to: 1. Fill gap that i circled 2. Test support on previous resistance red line 3. Cool down alittle from overbought situ shown on RSI and STOCH Rsi Thinks to look for: 1. This could still be a false breakout, so its really really important to see if it keeps support above the resistance line around the $55 level 2. If it keeps support watch if it stays range bound between red resistance line and green neon line. Some more touch points may be necessary before a move up or down depending on momentum/trend 3. Pay attention to STOCH its crucial at which end its at. During moves to the upside you'd want the stoch crossing up over the 20 level for example. Lines of Defence: Notice ive added 50SMA, notice it trending upwards towards resistance line. This SMA acts as support on the bullish case so watch it as well. If it comes towards the red resistance line at $55, its okay to assume it will act as support. Notice the yellow trend line. It can act as support as well Notice the .718 fib level, which can also act as support, provided we break down. In this scenario we;d have to observe carefully. If the Fib level can't hold support, it would be a corrective pullback. Notice red trend line below the yellow one. This is the ascending triangle support trend line. If its a false breakout, it can retest this line. My strategy is selling at this neon green line. Then observing the price action. If it plays out by testing the $55 level , i will wait for confirmation of support and buy at this level. I will also watch, if it breaks out past the green neon line, i will play it as an ascending triangle, wait for confirmation of a candle close above green line and buy for my second and final target at $75 or dark green line. Please comment with your ideas, advice and anything else! Thank you and goodluck! If you like my ideas please like and follow! I Lets grow together~! PS: Ive linked the ascending triangle play below which is in play as we speak.
NASDAQ:DKNGLong
by SafofAllTrades
DKNG - DraftKings - Coverage Initiated $100 Price Target0. Notes to follow; 1. We bought on September 11, 2020. Around $41.50 Mom's Birthday :) Love you Mom. Rest Easy Now Please :( 2. We were waiting for the Ark Fund to pick this up, and transition from Stock Market gambling, to Draft Kings; 3. Take a look at coverage and news on this Stock: thefly.com 4. DraftKings and the NFL expand their DFS and content partnership to Canada Read more at: thefly.com 5. DraftKings rises after one of Cathie Wood's ARK ETFs discloses holdings 16:22 DKNG Shares of DraftKings (DKNG) closed with an advance of $4.67, or 9%, to $59.31 after a holdings report from Cathie Wood's ARK Next Generation Internet ETF, dated February 1, shows that the ETF holds 620,300 shares of DraftKings, giving it a weight of 0.49% in the fund. Read more at: thefly.com 6. We are holding for at least $250 .This is a great long-term 10 bagger. - Dr Chelsea
NASDAQ:DKNGLong
by drchelsea1
2
Draftkings added to ARKW etfFund manager Cathie Wood added 620,300 shares of DraftKings (DKNG) to her Ark Next Generation ETF (ARKW) on Monday. My target is $64 by Friday. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends... *3x lucky 7s of trading* 7pt Trading compass: Price action, entry/exit Volume average/direction Trend, patterns, momentum Newsworthy current events Revenue Earnings Balance sheet 7 Common mistakes: +5% portfolio trades, risk management Beware of analysts motives Emotions & Opinions FOMO : bad timing Lack of planning & discipline Forgetting restraint Obdurate repetitive errors, no adaptation 7 Important tools: Trading View app!, Brokerage UI Accurate indicators & settings Wide screen monitor/s Trading log (pencil & graph paper) Big organized desk Reading books, playing chess Sorted watch-list Checkout my indicators: Fibonacci VIP - volume Fibonacci MA7 - price pi RSI - trend momentum TTC - trend channel AlertiT - notification www.tradingview.com
NASDAQ:DKNGLong
by Options360
2