$GNOG - right time to make bullish bets

Before going to technical part of the story, you may want to check-out this quick read with highlights on David Katz (analyst from Jefferies) putting $28 target in next 12 months.

More here: finance.yahoo.com/news/buy-2-stocks-jump-80-143439057.html

Currently, the stock is hovering at key level 15.5 (YTD fib 0.23 and also IPO open).
I expect it to wiggle around this level before breaking the downward channel from the peak reached right at the end of 2020.
Double-bottom pattern also suggests a bullish case.

With Draftkings being predominantly in the space in prior months, I believe this play worth trying a bet.

This is my personal opinion. I'm in with small position of 200 stocks; and will add-on the size as soon as the downtrade is broken.

Please do your own research before considering to entering this stock and I'd appreciate you sharing your opinion.