DraftKings Inc.

$DKNG : Is the reversal near?

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DKNG hit the second target and has since pulled back. It is currently sitting on the combined support of the 50DMA, 200DMA, and VWAP. With the golden cross momentum, I think it could bounce from here.

If it fails, I believe the worst-case scenario is a checkback to the trendline and lower VWAP support around $38 to $37.

I am long.

As always, I share my opinions and trades. I'm not suggesting that anyone follow my trades. You do you.

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