0ABA trade ideas
$DKNG Super Bowl run upDraft kings UOA flows to 75 2/19. Once DKNG gets over 59 its going places. A OTM naked call 3 weeks out may be the move.
DKNG Bullish update PT 75Lots of buying coming in for this beast, also Cathie Wood added shares to her portfolio. In depth DD on my previous ideas but some key points
1. Super Bowl (increase sports betting activity)
2. Unveiling of a new sports book platform in Virginia
3. Legalizing mobile betting in different states
4. Cathie Wood loaded shares
5. ER end of month
Option contracts to look at, 50, 53, 55, 60 for 2/19
DKNG Wave 3DKNG saw a big push after-hours after ARK invest bought 620,300 shares of it. DKNG broke out of a minor wave 2 expanding triangle (or WXY correction) and tapped the 0.618. I can only see positive catalyst in the foreseeable future with major revenue generating opportunity like the Superbowl and continuous legalization of sports gambling by states
DKNGFINALLY Cathie gets involved. This thing was getting annoying to hold. Due to the consolidation since mid-November at a key area(s), I don't expect much resistance at ath. $73 next.
DKNG Run up into Super Bowl & ERDraftkings has seen a lot of action with lots of sports fans betting on various games recently. With new announcements, like their recent proposition team-up with Bleacher Report for a Super Bowl LV deal and over 200 varieties of prop bets for the weekend. DKNG also announced they have had 4 consecutive months of $100 billion+ in revenue, which bodes well for the company going forward. The stock is picking up momentum, gaining lots of buying volume, with RSI on support. After trying to break out of the symmetrical triangle recently, DKNG looks prime to move into the 60s+ once again.
PT1 62, PT2 ATH, PT3 71-77
$dkng - chillin at daily supportbelow 52.96 we can see 49.32.
above 55.81 we can see higher moves with little resistance.
see fib levels and suppy.
$dkng - symmetrical triangle we are headed for $83.
look or a breakout above the purple trendline. after we clear 56.77, we can easily see 62.01. after 62.01 we see the 65 area which is a difficult area to clear. past 65 easy 83+ target.
65 is an important level.
one thing i will be watching is the negative divergence...
$DKNG 1D A company thats undervalued IMO (Super Bowl run up)A break above 58 can send DKNG to 65 and more easily. Set your alerts and implement a SL. A 30 percent lost is better than taking a 70 percent lost.
Draftkings looking to breakout of an Ascending TriangleHi Guys,
I enjoy posting ideas as its a great way to express the things ive been learning and to get other peoples perspectives. Great way to spin the cycle of learning through each other.
So first things first. We've been trending up an Ascending Triangle pattern since Nov. 2nd after creating a new High on the Daily Timeframe. Currently we are in a middle of a breakout, testing support on the resistance line.
What to watch here is:
Volume - Volume should increase to maintain the momentum upwards
Todays close must be above the red resistance line of the triangle.
What to watch to see if uptrend continues:
RSI continuing upwards, it printed a higher low so we need to see a higher high
MACD blue and red line mouth opening wider
MACD Green bar increasing
STOCH RSI continuing upwards past the 80 level
Other points:
We are above the 50SMA which gives an uptrend or bullish bias
Also notice the yellow line i drew above the MACD. Before a breakout its nice to see MACD flatlining, this means it was in a period of consolidation where momentum was in a standstill due to perhaps almost equal buying and selling.
Comparing this breakout to previous:
it printed a lower high RSI
MACD was also dying out, turning from Green to white which indicates reduced momentum.
Volume didn't decrease which before breakouts is something to look for. The volume before the green candle that broke through the resistance line had a slight decline. Its nice to see that.
Trading Ascending triangles:
Take a position after confirmation of a candle closed above the horizontal resistance line. Stop loss or limit should be slightly below the resistance line. To determine price targets, you take the measure of the base of triangle in this case is the yellow line I drew and labeled and you put it to the horizontal resistance line. So my first target is the previous high. Ill look to see what the situation is before confirming the higher price target. Which ill be observing volume and momentum.
My second target and the price target approximated by rules of Ascending Triangle is highlighted by the darker green line above. Around $75.
I Wish everyone luck and i hope everything made sense. Please comment if you agree or disagree. Im in the process of learning so comments are welcome :). Thanks.
DKNG Ready to push higherDKNG looks like its finally ready to move up, probably testing it all time highs around 62-63
$DKNG Breakout on Price and Relitive Strenght! I like this name along with $PENN (no position) This has broken out on both price and RS see chart for breakouts on both along with entry and stop prices. Ideas, not investing / trading advice. A word of caution, IDB has downgraded the Market to "Sideways Action."
$DKNG Bullish ProjectionAs we can see, Draftkings is finally waking up after months of healthy consolidation. Look for this stock to surge upwards in price in the near future, besides the profitability of the sports betting industry - here is my reasoning. Price testing at the final Fibonacci level the .236 (roughly $57.26 price level) shows this bullish divergence and once it breaks through this level we will see a jump. Furthermore, as we are on the daily looking at the RSI levels we can see two bullish confirmation signals in the two "W's" in RSI that I have pointed out - both further my reasoning for a bullish run upwards in Draftkings. Price target $65+
Draftkings trying for new highsWe have a breakout intraday. Think we can see new highs if we get above 59.
Draftking - Clear affiliation with round numbersWe can clearly see how many times price rebounded from 35s and 45s on both sides. We are at next round number 55 which has already failed once to break. And then there is 65 which too has failed to break once.
I already have a position, hence, I will just hold with my stop-loss of 45.
If not already in, going long after closing above 55 is ideal. Or if there is pullback, look for long opportunities closer to 45.
DKNG BUY OPPORTUNITYI see big potential earnings with this stock here.It is already at 55$ a share. We can expect higher highs to be made on this stock.
