$Draftkings(DKNG.US) rebounded strongly at the 0.382 level, confirming the wave count was correct. Unfortunately, it then broke down. Now it's back at the last support level of 0.236, around $20. The outlook is still for a bottom or a rebound. From a valuation perspective, a 2.5x price-to-sales ratio corresponds to $33. Currently at $21, a 50% return looks really good.
$Draftkings(DKNG.US)26 area is the bottom. If it pulls back to 28 in the next few days, go long DKNG directly and set up long calls.
Long-term target is 50+, time frame over 6 months. NBA, the four major leagues, and the US World Cup will be catalysts. Mark my words.
The key is that the technicals point to 26 as the bottom, and the fib 0.382 level is almost spot on. Hope to retest and get in.
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