| All rights reserved - Core Position Trading, LLC - 2020 | ||||
 | SPOTLIGHT STOCK CHART | |||
| ALL NUMBERS BASED ON THIS CREATE DATE: | 8/24/2020 | |||
| ANOTHER SPOTLIGHT STOCK CHART FOR SELLING PREMIUM | ||||
| DISCLAIMER: This Spotlight Stock Chart Breakdown is 100% for entertainment. I'm not recommending these stocks as a purchase. The research jump links in this blog post are ones that I use to start my stock investing research. Always do your own due diligence and never risk more money then you are willing to lose. Think of it like this blog post as seeing the world thru my eyes. | ||||
| DraftKings Inc |  | |||
| DKNG | LAST TRADE > | $34.48 | ||
| See Current Stock Price-DKNG | 8/24/2020 | |||
| CHART BREAKDOWN - 'Seeing the World Thru my Eyes' | ||||
| Draft Kings Inc. (DKNG) hits my radar this time because I've notice something ... sports is back and as the NFL has its training camps and are NOT reporting COVID cases that might threaten the season ... this might mean DKNG will see a SURGE in its business ... CLARITY ON WHAT THEY DO - DKNG is a daily fanasty sports BETTING site that uses the fun, some what non betting appeal to actually bet ... I'll post its business model below but basically thats what it does and with sports coming back activity on its web site will surge! Draft Kings really does'nt have competition ... yes, FREE fanasty sports sites are everywhere (ie, NFL, Yahoo, so on) but you can't play for REAL $$$ and that's where Draft Kings owns the market. So as more and more PRO Sports comes online (remember, no college football or basketball in fanasty sports so they not coming back wouldnt have effected them anyway) Draft Kings should see some good numbers ... now the recent news that its FEE's could be taxed ... that thrown a wrench into its recent stock movement but with this stock being value at $12Billion now in this HUGE sports betting market place ... Im thinking this might be one to watch. Again, Draft Kings IS NOT a web site to bet on sports ... Draft Kings is a site to play fanasty sports with REAL $$$ (ie, betting on the game you're playing in) Here's the Yahoo summary of what they are - DraftKings Inc. operates as a digital sports entertainment and gaming company. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products. The company distributes its product offerings through various channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. DraftKings Inc. is headquartered in Boston, Massachusetts. | ||||
| RSI | SMA (100) | SMA (200) | KELT MID | OBV TREND |
| 49.87 | 30.27 | 21.51 | 34.77 | SIDEWAYS |
 |  | | | |
| CLICK IMAGE TO SEE IT LARGER IN ITS OWN BROWSER WINDOW | ||||
| What's the RSI telling me? | ||||
| RSI - 30/40 repersents a stock that is starting to show signs of being Over Sold and I would be looking to pick up some shares at a price discount | ||||
| CPT - although its fallen recently, still in bullish territory - favorable if your asking me | ||||
| Support Lines | ||||
| SMA - When looking for a 'Low Entry' purchase we would love to BUY near the 100 day or 200 day support line. Its not 100% but its a 'Buy Low' situation vs 'Buying High' | ||||
| CPT - smack dab in the middle of its Res/Sup lines - favorable if you're asking me | ||||
| Resistance Line (What Wall Street considers its Top of the Chart near term movement) | ||||
CPT - because it is trading higher, might want to check resistance lines ...
| See Support-DKNG | |||
| Keltner Channel Breakdown | ||||
| KC - The stock is trading UNDER the KC MID line which presents more of a 'Low Entry' purchase and now is the time for me to start watching the stock. I like buying for value UNDER the MID line. | ||||
| CPT - its dancing on that MID LINE and I like that everytime it falls under it rallies - favroable again | ||||
| On Balance Volume or buying momentum ... is it trending Up? | ||||
| OBV - The 'On Balance Volume' trend line is DOWN/SIDEWAYS which tells me that buying momentum has stalled. For me its touch and go as to whether I'm IN or OUT because this isn't a CLEAR indicator. For me, more no than yes right now. | ||||
| CPT - not down but clearly sideways ... this is more favroable and like the recent rally in the line vs the stock | ||||
| Further research with - Using charts for technical analysis, Dividend information and Earnings Report Date | ||||
| RSI, SUPPORT LINES | KELTNER, OBV | |||
| View Chart-DKNG | View Chart-DKNG | |||
| Is this a good company for Writing Covered Calls? ONLY you can be the judge of that :) | ||||
| Looking at a 30 day window using just (1) deviation out ... | ||||
| Current Price | Strike Price | ~Prem | 30 day return | Expiration |
| $34.48 | $35.00 | $2.50 | 8.76% | 9/18/2020 |
| Check this stocks options here > | https://finance.yahoo.com/quote/DKNG/options?p=DKNG | |||
| Definition of the various charting indicators I use | ||||
| RSI - The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Source - https://www.investopedia.com/terms/r/rsi.asp | ||||
| SMA (100/200) - A simple moving average (SMA) is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. ... Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react. Source - https://www.investopedia.com/terms/s/sma.asp | ||||
| KC - The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner Channel is used to signal possible price breakouts, show trend, and give overbought and oversold readings. Source - https://www.investopedia.com/terms/k/keltnerchannel.asp | ||||
| OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. ... He believed that when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward or fall downward. Source - https://www.investopedia.com/terms/o/onbalancevolume.asp | ||||
| Disclaimer - No - at the time of this posting I do not have a position in this equity. I will not take a position in this equity for 3 days of this equity as to not front run for this equity. | ||||
| Remember, the content of this site is for informational and educational purposes only. If you invest using information contained here, do so at your own risk. Please read the full disclaimer posted below and visit cptdashboard.com for my privacy policy. | ||||
| Image credits - stockcharts.com | barchart.com | foolcdn.com | yahoo.com | earningswhispers.com | and me :) | ||||
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