DKNG
Sports betting is continuing to gain traction and acceptance across the United States. With sports actually finding their way back on the field since the long COVID-19 break, you would have to HATE money to not look to get extremely long in this name.
From a technical standpoint, it is attempting yet again to breakout of that $26-$41 (two purple horizontal lines) range that PA has been stuck in since printing its last high back at the start of June. The orange box has historically been a strong supply zone, sending us back down to the bottom of the range after attempting to gain price acceptance above the horizontal purple line around $41 in June.
If we can get a couple daily bars to print and hold above the first diagonal dark purple line, I like this name to make a strong move to $65 in a relatively short period of time, which would be almost a +58% move from current price of $41.
Good Luck.
- PennyBags