Thread by @malteseinvest

Analysis: #NASDAQ $DKNG

Case 387 #DraftKings Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#DKNG 1/4

Chart 1
Weekly Chart: The #parabolic move seen in Apr. 2020, as expected, saw a correction down to the #Fib 0.50 (27.70) - a 2 week close below sees price fall down into strong #support 20.50 - 16.80 (Fib. 0.786, #pivot and .....

DKNG 2/4

..... #SMA 50). A close above 42.00 is required to target 54.22 and further above 61.93.

DKNG 3/4

Chart 2
Daily Chart: #Momentum is negative but rising. The SMA 200 (price has never traded below) at 18.30 is in #confluence with the Mar. 2020 #trendline and Fib. 0.786.

The #Strategy is printed on the image.

$DKNG 4/4

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