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DKNG trade ideas

DKNG back to 70+?DKNG 1HR CHART... After a strong sell off from reaching ATH, we seen some bullish momentum in the past 2 weeks with a strong close on Thursday. March Madness championship is Monday April 5th, so a potential catalyst to help this momentum continue. Expecting to see some bullish price action early this week and sell the news with sports activity decreasing. Possible catalysts to keep a look out for... gambling laws, partnerships, app features, etc. A safe entry would be on the break of 65 and a hold, to ride it back up and retest ATH. A Break Under 61 I would consider looking for a short opportunity to mid 50s depending on the overall market sentiment.
NASDAQ:DKNG
by jUiCE_Trades
Bullish on DKNG(This is not financial advice) Hello everyone, today I have a TA on DKNG that I spent quite a bit of time on. Sorry this TA might be a little bit confusing and messy but there was a lot to go over and I will try my best to explain it all. To start off the reason I am interested with this trade is because I can feel excitement building up in the entertainment are with stocks like FUBO, GMBL, U and of course DKNG. I am both bullish on DKNG long and short term and I see it either dropping to support at around $58 and bouncing to either new ATH's or old highs. I have my support shown with the rectangle box and the red channel it is within. DKNG has been within this upward red channel for months and I believe it will stay in this channel and bounce within it. I have also set up price targets that you could possibly take profits at on different resistance points as well as supports on your way up. I took out most of the Fib lines to make space but I left two that I think are pretty important in this case. On this Fib Retracement you could buy at the 0.5 if you wait for it to fall to there where there is the fib line and two supports and the pattern of the RSI combined with the hype building up around the stock again as people talk about it more and MLB starts. buying 58 area is very low risk and a very solid buy if it falls back there. Otherwise I set up two other good buy areas you can see on the chart. The MACD does signal for a buy next market open most likely but it could be wrong and fall to that safe support buy area. The 20 day EMA is bullish as well as the VWAP if you change the timeframe. To conclude DKNG is a pretty volatile and active stock that I see being a great company long term and if I am right about my DD great short term as well. This stock would be a good day trade, scalp or swing trade. The only problem with a swing trade would be that in the current market swing trades are a little bit more dangerous. If you have any questions about this trade or the TA or disagree be sure to leave a comment. Thanks for checking out my idea if you like it be sure to thumbs up and follow. Thank You! - Vlaire
NASDAQ:DKNGLong
by vlaire
Potential Breakout coming soon for DKNGDKNG is in a nice megaphone pattern since the beginning of 2021, recently we have been making higher lows and consolidating in the 67-72 range. If we can maintain this consolidation i think we could see a breakout to the top of the megaphone PT 79 with a high PT of 81. The trade that i have outlined has a risk to reward of 5.4 and a stop loss on the break of the green support zone that would signify a probable drop to the bottom of the megaphone.
NASDAQ:DKNGLong
by SigCharts
Draftking Ascending TriangleMarch madness + New price upgrades has pushed this stock over 20% this month so far Resistance is around the 72-74$ area. I'd consider a pattern breakout and entry over 74$. White lines are overall range it's been trading in. Yellow line is recent support area trendline that compliments the Ascending pattern but even that trendline doesn't hold and it falls back to the mid 60$ range you can still see the pattern with the white lines. Greenlines are targets fibonacci
NASDAQ:DKNGLong
by ContraryTrader
5