DNKG: Many interesting patterns to watch this week!
Hello traders and investors! Let’s see how DKNG is doing today!
The trend is clearly bullish in the 1h chart, as we have higher highs/lows. The 21 ema is going up too, and it is working as a nice support level.
Another relevant support to keep an eye on is the black line at $ 51.25. This point worked as support, and it was a previous resistance on July 29. DKNG is following the Principle of Polarity too.
Yes, it is a bull trend, and we have a good bullish reaction above the 21 ema, but the challenge is to defeat the resistance at $ 53.38 (red line).
The daily chart looks interesting. We are not in a bull trend, but at least the trend is not bearish anymore. We are in a congestion, and the 21 ema is flat, but this Inverted Head & Shoulders chart pattern is a good sign.
The $ 51.25 was a pivot point, but it seems the $ 53.38 is a strong resistance, along with the $ 56.07. I see some early signs of reversal, but the situation is risky. Of course, higher the risk, better the reward. If we lose the $ 51.25 along with the 21 ema the congestion will prevail and DKNG will keep moving erratically.
If this analysis helped you, remember to follow me to keep in touch with my daily updates.
Have a good day.
The trend is clearly bullish in the 1h chart, as we have higher highs/lows. The 21 ema is going up too, and it is working as a nice support level.
Another relevant support to keep an eye on is the black line at $ 51.25. This point worked as support, and it was a previous resistance on July 29. DKNG is following the Principle of Polarity too.
Yes, it is a bull trend, and we have a good bullish reaction above the 21 ema, but the challenge is to defeat the resistance at $ 53.38 (red line).
The daily chart looks interesting. We are not in a bull trend, but at least the trend is not bearish anymore. We are in a congestion, and the 21 ema is flat, but this Inverted Head & Shoulders chart pattern is a good sign.
The $ 51.25 was a pivot point, but it seems the $ 53.38 is a strong resistance, along with the $ 56.07. I see some early signs of reversal, but the situation is risky. Of course, higher the risk, better the reward. If we lose the $ 51.25 along with the 21 ema the congestion will prevail and DKNG will keep moving erratically.
If this analysis helped you, remember to follow me to keep in touch with my daily updates.
Have a good day.
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