Bullish. DKNG has potential.

Greetings.

I'm slightly bullish on DKNG based on the weekly and daily charts. However, with the frequency of buying / selling of shares, I assess traders and investors are still nervous about the correlation of the company's revenue to the COVID-19 crisis. No sports means less bets, and less revenue for this company. However, look at the upside potential. What if COVID-19 goes away in the fall? What if you got in on this company [before] a major move to the upside? Who knows? I trade largely on technicals, and the technicals depict a bullish ascending triangle formation. A breakout above resistance (confirmed with strong volume) gives DKNG an initial target of $64, and I'm being modest. The real target is $75, but we'll see. Patterns may change between now and the future...so always execute due diligence.

Happy Trading!

Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss.  Loss of principal is possible. Please exercise your own due diligence.