DKNG DraftKings (DKNG) – Monthly Chart Analysis
Price Targets
• TP1: $52.49 (Handle breakout level)
• TP2: $59.38 (First major resistance)
• TP3: $74.00 (Prior ATH – full Cup & Handle target)
Pattern Formation
• A long-term Cup & Handle structure has formed, spanning 2021–2025.
• The Cup runs from the ATH near $74 down to the lows around $10.
• The Handle is consolidating under the $47–$52 resistance zone.
• Breakout above $52 would confirm the bullish continuation setup.
EMA Structure (9 vs 50)
• Blue 9 EMA is above the Green 50 EMA — showing bullish short-term momentum.
• 50 EMA is curving upward, confirming a potential long-term trend reversal.
• The gap between 9 and 50 EMAs is widening, signaling accelerating momentum.
Key Support & Resistance Levels
• Support: $41.13 (EMA cluster pivot), $35.08 (Handle base, must hold).
• Resistance: $47.38–$52.49 (critical supply zone), $59.38 (swing target).
• A clean breakout could retest $74 (ATH).
Volume & Momentum
• Volume contraction during the Handle formation — healthy sign before breakout.
• Look for a volume spike above $52 to confirm institutional buying.
• RSI trending above 55, rising steadily, not overbought yet.
Outlook
• Bullish Case: Breakout above $52 with volume = potential run to $59–74.
• Bearish Risk: Losing $41 support risks a drop to $35 and invalidates the Handle.
• Multi-year base structure suggests DKNG is primed for a major expansion cycle.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.