Based off my previous DKNG chart, DKNG is pushing up towards the 55’s. I think with the impending 2nd lockdown coming, DKNG has a chance to have another bull run. Around the 3rd week of March when the national lockdowns began, we can see in the purple shaded rectangle, the lockdown seemed to serve as a catalyst in a bull run. As we also saw in August in the pink shaded rectangle, we saw a doji which represented a bull reversal. As NBA starts to ramp up, with the addition of Virginia legalizing sports gambling, DKNG may have a “lockdown proof” earnings in January.
I do believe that DKNG is due for a reversal, so I will be looking to add more around 48.63, 46.66, and 44.78. If DKNG can maintain the 44.78 level – 50 day EMA, I think that would be a prime entry point and possible confirmation as support.
I do believe that DKNG is due for a reversal, so I will be looking to add more around 48.63, 46.66, and 44.78. If DKNG can maintain the 44.78 level – 50 day EMA, I think that would be a prime entry point and possible confirmation as support.
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