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Listen up you degenerate gamblers. I'm going to tell you how you can make sweet sweet tendies on other degenerate gamblers. There's a little TA indicator known as RSI. I'm not going to explain it, because none of you will pay attention long enough to comprehend.
Straight to the point. The RSI on $DKNG is in the OVERSOLD range and has only been to it's current range on the daily chart two other times in the last year. Both times it has reached this level of being OVERSOLD it has rallied significantly in the following 30 days.
On 10/30/20 the daily RSI hit 30. The following rally gained 58%.
On 5/6/21 the daily RSI hit 30. The slide continued for a few days, before rallying 36%. (If you calculate from the day RSI hit 30, it's only a 15% gain)
On 7/15/21 the daily RSI hit 30. Where will we go from here? It may slide for a few more days, but that will make the rally even bigger. Earnings are on 8/6/21
Targets for 8/15/21:
$60 = 34% gain
$65 = 45% gain
On top of this, mama Cathie continues to buy and is now at a total holdings of 12.523 million shares. Oh and a little sports league called the NFL is starting a new season soon....
Do what you want, but I'm buying.
Positions: Shares of $DKNG and a boatload of 8/20 $60c