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DraftKings Inc., Elliott Wave Technical Analysis

DraftKings Inc., (Nasdaq: DKNG): Daily Chart, 17 July 2023

DKNG Stock Market Analysis: We have been looking for upside for a while, as we keep moving higher. We could be in a wave 5 of a higher degree wave (C). Invalidaiton level stand at a break of the top of wave {i}.

DKNG Elliott Wave Count: Wave 5 of (C).

DKNG Technical Indicators: Above all averages.

DKNG Trading Strategy: Looking for longs into wave {v}.

Analyst: Alessio Barretta

DraftKings Inc., DKNG: 4-hour Chart, 17 July 2023.

DraftKings Inc., Elliott Wave Technical Analysis
DKNG Stock Market Analysis: Looking for a wave {iv} to start forming as we hit 0.618 5 vs. 3. Looking for a three wave pullback into wave {iv} to then resume higher.  

DKNG Elliott Wave count:  Wave {iv} of 5.

DKNG Technical Indicators: Above all averages

DKNG Trading Strategy: Looking for longs into wave {v}, looking to see if the 38.2% retracement of wave {iii} will hold as support.  

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