DKNG chart looks like it is getting ready to rocket. Closed the daily on a bullish hammer after being in the red almost all day. Closed above the 21EMA, $0.10 away from the 9EMA, and looking to tag the 50EMA next week. Anchored VWAP shows we bounced nicely off the 1 standard deviation. Sell target would be when we hit the 2 standard deviation which this has done multiple times and rejected (i.e. purple bands). Improving fundamentals coupled with recent acquisitions and this is ready to move higher. Based on fib extensions and resistance lines I would like to sell a portion of the position around $42.66 and $45.41. Not out of the realm of us hitting these targets within the next 6 months given sports betting season is upon us.
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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.