DraftKings Inc. (NASDAQ:DKNG)

Chart of the Day October 19th, 2020

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DKNG Weekly Chart

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  • Wykeman: $DKNG I guess theres going to be football to bet on.
  • scottto_2: @Wykeman $DKNG - The Raiders should be OK to play since all their fans wear masks, bandanas, etc...
  • traderbren: $DKNG - back above the 50 dma & 20 dma...getting some interest today.
  • vfr777: @traderbren $DKNG Just spotted it too!
  • Carpe_Diem: @vfr777 $DKNG - Aug open int. looks great. Someone really thinks this is going higher.
  • Herb: @traderbren $DKNG The Drug King!
  • CraigReynolds: @Herb $DKNG Kind of interesting the action of stocks right after the stock is mentioned on CNBC half time show by popular guests and traders like Najarian. Today, right after the following stocks mentioned, $DKNG mentioned for unusual option activity, stock ran up prior to stock mentioned $1.25+. Others mentioned were $GD. $RGA, $TMUS, $LRN and $SONO that had same movements.
  • lostsheep: @CraigReynolds $DKNG $GD $RGA $TMUS $LRN $SONO Nice scalp for all in the know
  • CraigReynolds: @lostsheep $DKNG $GD $RGA $TMUS $LRN $SONO I understand delays in real time, just interesting retail buyers.
  • beachnorwegian: @AdrenalineTrade $DKNG May 26 gap filled. 38.2% fib retracement. In@27.84
  • AdrenalineTrade: $DKNG watching like a hawk to see if 30 dollars can maintain support
  • glens13: $SPCE $BYND $DKNG $WYNN - I will be watching these today for upside moves. They all closed well yesterday after pullbacks with consolidation and look like they are beginning substantial moves to the upside.
  • glens13: $DKNG - trying to retake the 50sma daily ($32.53) that was lost yesterday - could get some legs with last weeks upgrade to Overweight and $52 PT
  • bogiedog1: Hadn't looked at $DKNG in a while. Wow, not so much.
  • Wykeman: $DKNG. $PENN Early action..
  • 1winkie: $DKNG was started with an Overweight rating and a $52 price target at Stephens. It had a $46.80 consensus price target.
  • Herb: @Yaguila $GAN leaving $DKNG in the dust.
  • Kjksm1: $DKNG $32 target acquired and then some. Completely closing out remaining position on this name after taking profits several times. Would look to re-enter short position on significant bounces.
  • bRobert: @williamJ $DKNG M bearish target acquired np
  • williamJ: @Gary not sure why my original post when under the user @kjksm1?? $DKNG $32 target acquired and then some. Completely closing out remaining position on this name after taking profits several times. Would look to re-enter short position on significant bounces.
  • Herb: @bRobert $DKNG Nice trade. Looks like $GAN has eaten the drug king's lunch.
  • JoeT: $DKNG bounced off the 50day ma and up $2 from the bounce
  • champ: $DKNG $33.50, up about $3., off of LOD and there is News this morning.
  • graphman: @champ $DKNG What is the news on it? Thanks
  • gwenzee: @graphman $DKNG I am sure you can find any news by going to its website.
  • bRobert: @gwenzee $DKNG There was a swing trade on completion of M top Always follow bearish patterns for completion ans possible swing entry How high the bounce? trailing stops
  • champ: $DKNG, took profits.
  • williamJ: $PENN Closed out final 1/2 of short position this afternoon at 29.20 after selling first half at 28.52 near the open. Sitting in about 70% cash with slight short bias at this time. This is the most cash I have had on the sidelines for quite some time but I have closed out shorts in a so called basket of deplorables consisting of $WYNN, $PENN, $DKNG and $NCLH over the last couple of trading days after tremendous moves lower over the last two weeks. Going to take a step back and see what the market gives us. Likely rinse and repeat in many of the trades that have been working so well.
  • drmike54: @williamJ $PENN $WYNN $DKNG $NCLH $TOL No one loves shorting stocks more than I do, but this is a tough market to short with Jerome Powell supporting the market with everything he possibly can. Even the stocks of companies whose businesses are 'temporarily curtailed' (casinos, resorts, hotels, airlines etc.) haven't been punished as much as some of us would have imagined. The bottom line is the Fed is throwing everything it can at this economy using helicopters (and they will soon to be able to use the A737 max). I'm not sure you want to get in their way. I like $LEN long more than $TOL however..... And if you are buying a home here in Florida, Debeers...there is always more value in a pre-existing home.
  • champ: @drmike54 $PENN $WYNN $DKNG $NCLH $TOL $LEN ---- Why is that/on value...?
  • JoeT: @unlikeyou1 $DKNG sorry I missed this on Friday, and I'm prob the wrong person to ask to be honest. Maybe @scottrades can help with this, as I really have no idea how far south this could go, however, I suppose I'd be looking for support at the 50 day ma first (so around $30) and then possibly around $27.50 (at the previous pullback on May 21 and 22). But again, I'm just throwing darts here, as I'm still learning to read charts
  • JoeT: $DKNG was looking for a rebound off the $35 support level from the past couple of weeks but seems to be breaking through and heading south a bit more.
  • vatradergreg: Welp, stopped out of $CRWD which to be honest irritates me a bit. I'm sure it'll be back to its trending self soon, but you've got to stick to your plan, and my stop was in an established area. Only things working in my account are my shorts in $XOP and $DKNG. I plan to watch the tape in the afternoon, but to me this is a day to watch and observe. The market isn't broken by any means, but with all the major averages down around 2%, you really have to be mindful of new entry's. Best of luck out there to everyone and have a great weekend.
  • unlikeyou1: @JoeT $DKNG If I'm looking at the daily chart, since it's failed at that support zone, is the next level around $29? Is that your interpretation of the daily chart?
  • williamJ: $WYNN $PENN $DKNG $NCLH $SPXU These shorts continue to work really well. $DKNG target of 32 is getting close but this has become such an outsized position from avg 41 that I'm taking half off today to lock in profit. Same for $WYNN - taking 3/4 off of what was a full position but has now become outsized from avg 100 bucks. $PENN remains a full short position with avg 37 and target still around 28. Aside from these focus names, remain short the overall market via a basket of other generic names, including $SPXU. Sitting on ~25% cash.
  • williamJ: $DKNG selling intensifying. Crosshairs set on 32. Short
  • perissinotti: $DKNG @DAN have you all seen this? The board of directors of DraftKings has sold millions in stocks, just before a big fall this week, and on 06/26 a supposed analyst Rosenblatt foresee the stock @60 level. They should be arrested, in my country this kind of thing has a name, MAFIA.
  • spmeyers: @perissinotti $DKNG here we just call it "business as usual"!
  • williamJ: $WYNN $DKNG $PENN $NCLH $SPXU #Market

    I did quite a bit of profit taking and right sizing today and yesterday after monster downside moves in these mo-mo names I have had full or near full short positions in the last couple weeks after waning #reop ...
  • bRobert: $APT I have a healthy # of covered calls with a short expiration Juicy premiums Technically . doing nothing wrong on the daily $DKNG It is becoming obvious that the team sports season as we know it is in jeopardy. Are we going to bet on golf , MMA and other non team sports , the ELECTION
  • bRobert: @perissinotti $DKNG Why do you say that ? I thought it to be a reasonable short for fundamental and technical reasons M double top /flag breakdown and a HUGE RSI bearish divergence, triggered several days ago $28+ target Information available to all It was time to take at least good partial profits and tighten up stops IMHO
  • jeff_free69: @bRobert $APT $DKNG Don't forget Ultimate Tag! in case you missed it, yes there is such a show on FOX now
  • debeers: @bRobert $APT $DKNG tough day, @bRobert
  • bRobert: @debeers $APT $DKNG Hedges, lots of prior partials .Not so bad . Many things were close to 52 week highs and demanded pruning and tighter stops . A few go short positions didn't hurt either $NVAX pullback bounce worked out Sold very juicy OTM calls for ridiculous $$ Nice hedge with upside
  • williamJ: $NCLH short $15 target acquired and fully exited that short this AM at 14.78. Has been a monster trade from the low 20s. $WYNN, $PENN and $DKNG shorts continue to hold up really well. Added to $DKNG early this morning on break down of flag pattern. Looking for ~32. $PENN target is 28.
  • vatradergreg: Bought a few puts on $DKNG around the 35.03 level in Aug21 - /57DTE. 35P - stop around the 21MA area.
  • StockMarketMentor: A Price Alert has been triggered for $DKNG DraftKings Inc.. Click here to view associated video clip: http://stockmarketmentor.com/stockanalysis.html?ticker=DKNG&clip=123558
  • captron: $DKNG - Price alert just issued. Is this for shorting? Its falling out the bottom of the BB's.
  • PhooeyQuai: @captron $DKNG Looks like an old one coming back around.
  • williamJ: $DKNG Continued weakness from my note this AM. Added to a full position on failure of bull flag at 36.50 and weakness continues as it challenges LOD. Price target 32. Short.
  • captron: @PhooeyQuai $DKNG I knew I ditched it at 38 and change 3 days ago. Was just wondering. Guess the shortened baseball season and rules nobody will follow spooked them.No spitting? That will ruin baseball for ever.
  • PhooeyQuai: @captron $DKNG You would think it would be going up, but then again sell the event.
  • captron: @PhooeyQuai $DKNG- Our thinking and the rules we have had for years do not apply to this so called market we have been in. I keep a silver dollar on my desk to flip that is more accurate than some of my thinking on where as stock is going. I just follow the money and thats the safe way I believe.
  • williamJ: $DKNG testing LOD and bottom of a flag pattern. Break of that flag (~36.50) and I'm looking for a retracement to the 50 day EMA at ~32. RSI and TSV on the hourly and daily timeframes indicate there's likely more pain here. Continue to be short with 1/2 position.
  • williamJ: Long $NDX, short small caps continues to work here and reopening euphoria continues to wane. Specifically, still see a lot of opportunity to be short casinos but taking some profits on the $WYNN from up around the 200 day SMA. $PENN short still my favorite and maintaining full position from avg price at 37. Interesting to see $DKNG so weak in this tape despite Jeffries 'Buy' initiation and $55 target. I'm short this name with a half position with stop just above $45/ATH. Would add on weakness below 20 day MA.
  • bRobert: @williamJ $NDX $WYNN $PENN $DKNG $PENN. Huge. upside. from WEEKLY. pre COVID cup. $50+ with WEEKLy flag trigger.
  • Ava: $DKNG C&H breakout...?
  • williamJ: @bRobert $NDX $WYNN $PENN $DKNG Perhaps one day I'll join you in $PENN! But at this time, weekly chart is way outside of my wheelhouse from a timeframe standpoint in this name.
  • champ: $DKNG, @ $42, they have a market-cap of over $13B. Jefferies initiated coverage today, with a Price target of $55. This was a new IPO, last year. Take a look at the recent upgrades. ....On 6/11 Oppenheimer initiated with an Outperform rating. ....#Be-Aware....this stock really Zig-Zags, has large volume, entry is not easy.
  • champ: $DKNG, sure looks like this is a stock for gamblers.
  • williamJ: @champ $DKNG It's a favorite of the millennial mo-mo crowd and retail has certainly piled into the name. Upgrades all over the place, to little effect in the last couple of weeks, even today when the overall market is higher. That said, the stock traded up ~250% since it's breakout in early April. Shaping up to be another reversal today on what will be well above average volume with respect to 20 and 50 day volume averages. I'm short and looking to add on weakness - particularly a break of the 20 day SMA
  • AdrenalineTrade: $DKNG pulling back, anyone like this for possible long entry?
  • Sher: @AdrenalineTrade $DKNG - Not right now... I took advantage of today's opening pop to take profits on a previously underwater weekly $42 call position, expiring this Fri. - I had been adding to it, pretty consistently last week, in hopes of exiting in the green. The recent $40M share offering and debate over whether or not CA would pass a sports betting bill stoked concern, on my part. Here's an update on the latter posted today: DraftKings falls on California sports betting talk - Jun. 22, 2020 2:03 PM ET - By: Clark Schultz, SA News Editor DraftKings (DKNG -2.1%) turns lower on trader chatter that the sports betting bill in California isn't going to be passed this week to send the issue to the voters in November.
  • AdrenalineTrade: @Sher $DKNG Thanks for the info, didn't know they did an offering
  • williamJ: $DKNG testing 20 day SMA.
  • Bwhitty: @williamJ $DKNG respected it so far. I like potential with tight stop.
  • champ: @AdrenalineTrade $DKNG @ $39.20, the last offering selling price was at $40.00, on $40m shares, by the selling shareholders, as of 6/19.
  • champ: $DKNG, California fails to pass sports betting, that is the current News that is dropping this stock, most don't even know about this latest News.
  • williamJ: $DKNG heavy volume selling with break of 20 day SMA. Looking for f/t tomorrow. Short
  • Herb: $DKNG (38.27 -8.88%): Declined following reports that California is pulling back and failing to pass legislation to legalize sports betting in the state, setting back the possibility of bringing sports betting legislation to state voters in the near-term. Initiated with a Buy at Jefferies.
  • champ: $DKNG, that #California-legalization-Bill, on Sports-Betting did not pass and that had a huge effect on this stock. Turned it into a short position.
  • champ: @Herb $DKNG --- Sure looks like that Jefferies analysis, was uninformed and didn't know about what was going on today in California.
  • Herb: @champ $DKNG He has more important fish to fry, like getting a corner office or a bigger xmas bonus. . . . .
  • AdrenalineTrade: $DKNG nice recovery
  • kbrowe: @AdrenalineTrade $DKNG Very nice going into the close.
  • TradeGURU11: $DKNG working
  • nnkumar13: $DKNG nicely recovered
  • Herb: $DKNG (I subconsciously keep wanting to call it Drug King). 33 million share secondary.
  • sweeper240: @Herb $DKNG or Donkey Kong
  • tgbartell: @Herb $DKNG - Donkey Kong, definitely.
  • crank: @Herb $DKNG Looks like a C&H ?
  • GMac10: @tgbartell $DKNG This actually made me laugh out loud... I see Donkey Kong and the Princess in my head every time I see that ticker
  • Auto: @tgbartell $DKNG Great game...it gobbled up a bunch of my quarters back in the day 8>)
  • Herb: @crank $DKNG Could be. Don't know its CANSLIM numbers.
  • perissinotti: @Herb $DKNG it can be always wrost, think about $HTZ selling 1B in new stocks
  • Bert953: @sweeper240 $DKNG Yes, Donkey Kong. Very retro.
  • nnkumar13: $GAN $DKNG nice move last 15 min
  • perissinotti: $DKNG mostly known as Donkey Kong...lol going UP , just don't forget the are selling 1.3 Bi in shares, so they need more DUMBs today to buy their crap...
  • kbrowe: @mogo $GAN I didn't think the ER was that bad, but sold half on the run-up prior to ER. Holding onto the remaining shares because I am bullish on the sports gaming story. Will look to reload under $20. Also holding $DKNG and $PENN.
  • mogo: @kbrowe $GAN $DKNG $PENN - Those are Dave Portnoy's favs! https://www.pscp.tv/stoolpresidente/1lPKqLNYeVexb
  • kbrowe: @mogo $GAN $DKNG $PENN LOL, and he is CEO of Barstool Sports, associated with $PENN. I am too old to be one of his follower's, but the younger crowd does follow him so i'm just going along for the ride up.
  • mercury6s: $DKNG stopped out of a starter pos. from monday. $GAN holding up but I bailed anyway for small gain
  • Michael_L: @mercury6s $DKNG ... what level did you get in? must have been a really tight SL.
  • scottrades: $DKNG Squeezing a bit here on a 10 min chart.
  • kbrowe: $DKNG DraftKings has commenced an underwritten public offering of 33M shares of its Class A common stock, comprising of 14M shares offered by the company, and 19M shares by the selling stockholders. Down 5% AH
  • nnkumar13: $DKNG moving good
  • AdrenalineTrade: $DKNG through Friday's high
  • vatradergreg: Filled @ 39.20 on $DKNG with a stop @ 34.20
  • Herb: $HUGE looking small. $DKNG woke up.
  • StockMarketMentor: A Price Alert has been triggered for $DKNG DraftKings Inc.. Click here to view associated video clip: http://stockmarketmentor.com/stockanalysis.html?ticker=DKNG&clip=124025
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Stock Price $USD 42.53
Change -4.60%
Volume 70,010,000

DraftKings Inc is a digital sports entertainment and gaming company. The firm provides users with daily fantasy sports, sports betting, and iGaming opportunities. It offers online and retail sports wagering offerings, online daily fantasy sports contests, and online casino games. The company generates its revenue from online gaming which includes daily fantasy sports, iGaming, and Sportsbook. Geographically, it generates revenue from the United States.

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