$DKNG Draftkings Bullish Reversal
Targets $53.50 - $55.80
bullish cross above the 7ma
Volume spike today
0ABA trade ideas
$DKNG potential pull backRisk is not justified.
Fundamentals not supporting the upside.
Pull-back possible to retest 45 support level (trend-based fib 50% level); if broken downward target to 38-35.
If confirms the breakout from the forming bull-flag, potential target to 56, then 61.
Then double-top setting to be tested.
Would be interested in your thoughts.
The analysis is for discussion only.
Draftkings breaking out!!Noticed on Draftkings NASDAQ:DKNG chart that its breaking out from its lower trend!
The stock has been muted lately but with refreshed demand for betting and the deal closed with a Native American org,
Draftkings on the move!
Just got in some weekly $50 calls here, i expect a run to $55 which would be my new exit point!
Good luck to all that enter calls!
Notice the spike on the RSI & MACD??
Love to see it!!
$DKNG what bullish setup can be better than this?$DKNG 1) Hammer candle (bullish reversal) at 50 SMA, 2) Stochastic turning up from the oversold zone
Bearish Crab setup (bullish to $82)Price is right around the 38% retracement (min requirement for C) If we bottom here, over B = X and over X = 1.618 ($82)
$DKNG Pulling Back to Move HigherDraftKings has been on the decline as of late but I believe it is getting ready to reverse. Many are suggesting athletes receive the vaccine to influence public opinion in a favorable way. This is would be huge because if the vaccine works there will be less cancelations and more people getting back to "normal" life.
My 2-3 week price targets are $48.50, $49.50, and $50.65
My 2-3 month price targets are $52.20, $54.00, and $60.00
DKNG Target 55-60$DKNG (Draftking) seems to be taking a good support towards the 50 MA. Good place to long with a stop loss around 10% below
DKNG getting ready for a big move DKNG loves to consolidate for some time and rally the next week so im expecting a big move some time this week or next week at the latest, support is at 47 under that dkng can drop fast. If it holds above 47 the way its been this past week we can see an overall move to retest resistance at 54-55 and go for that gap fill. Breakout of this handle and we could see dkng back at ath!
PT 58
Descending wedge into a breakout by midweek?Bouncing off the 4hr 50EMA like a boss. Could see a breakout anytime now with RSI very low
anticipation of more lockdowns pushing dkng share price lower? joe biden said if he gets in he will do another lockdown. i dont think he is lying. with inaguration day coming soon and no convincing signs that trump will stay in office, its looking more and more like biden will get in.
dkng is highly dependent on sports obviously, and if the lockdown gets confirmed this thing is gonna sell off hard.
from a technical standpoint it looks like there may be some underlying weakness. the breakout from last week has been completely faded over the course of this week. we have an ascending channel/wedge and the chances are that it will break down and the daily macd is curving lower, not sure if it will start selling off again, but if the channel support doesnt hold, i will be entering short. if we break below the 50 and 20 day moving averages (white and gold ), we will probably see a significant second leg down. also, we have possible hidden bearish divergence on the daily macd.
there is a bull case to be made however. we are still in an uptrend on a macro level and on an intraday level, and it looks like we may get a bull cross of the 50 and 20 day soon if it can continue going higher.
could still be bullish, but there is a bigger, stronger bear case to be made here.
US Stock In Play: $DKNG (Draftkings Inc)$DKNG has traded back into its 9 months trend channel zone, breaking above its 50DMA. At the current junction, $46.25 price level would be acting as its immediate support resistance; coinciding with its 50DMA.
The first major price resistance hurdle to clear is targeted at $55 range gap, before a breakaway acceleration towards its all time high level at $64.20.
