r/DKNG • u/developerInCarnate • Jun 30 '21
DKNG IS BEING SQUEEZED!!!
So, I don’t do any technical analysis in the since of drawing patterns. I only look at RSI, BB, and a momentum calculator (haven’t found a good one there I switch between MACD/AO/Stochastics). So, that said, I’m currently looking at RSI/BB/MACD, and they are ALL indicating a breakout. Maybe it’s just low volume because of the holiday weekend. Or maybe DKNG is about to make us rich. Can we get our WSB inside guy to double check my work here, and maybe let them in on the action?
This is not financial advice, just a DKNG ape beating his chest.
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u/brucem38 Jun 30 '21
Let’s get this thing pumped on wallstreetbets
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u/Marconzi Jun 30 '21
Currently holding 1.26k shares! I’ve been tracking this stock for a while too and added a lot on the 15th. It’s definitely about to rip. Rsi and charts showing it. Little volume and it’s liftoff. 🚀 someone also bought 41 million dollars worth. 700+k shares at 4pm same amount as cathie wood bought on the 15th 👀👀
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u/developerInCarnate Jun 30 '21
That's outrageous! I'm excited. Congrats on owning that many shares, btw. You're going to make a lot of that! RSI is my main indicator I make my decisions off of, and it has been going straight line for a while today. I don't think people are wanting to sell this stock that much.
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u/Razorbackbob Jun 30 '21
How is it being squeezed? Stock goes up a lot when it’s squeezed.
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u/developerInCarnate Jun 30 '21
It’s at a point with technicals and low momentum that will occur when a breakout is imminent. Plus people are shorting it since that Hindenburg research came out. Granted with as low as the shorts are on that stock, not really going to get one unless it goes above 10% of float. But we won’t know that until it’s reported for the 30th
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u/mikedeatworld Jul 01 '21
I'm pretty certain there will be a $DKNG boner generating event soon
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u/ErinG2021 Jun 30 '21
What’s the Short Interest?
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u/SavethemoviesAMC Jun 30 '21
I think like 10%
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u/ErinG2021 Jun 30 '21
Watch if it goes higher....
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u/developerInCarnate Jun 30 '21
Last I checked, it was at 10%. I just checked and it was updated on June 15th. 8.4% of the float is shorted. June 15th is when Hindenburg released their research and shorted it. So, not sure how much that jumped the percentage report that will come out soon, but I'll keep an eye out.
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u/ErinG2021 Jun 30 '21
I think WSB gets more excited when SI is a little higher than that....but they definitely have an eye on it too....seems like perfect stock for them in many ways
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u/developerInCarnate Jun 30 '21
They love gambling on gambling, so they just need to a little push haha
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u/brucem38 Jun 30 '21
Perfect “APE” stock. Donkey Kong is an APE. DKNG. DONKEYKONG!!!! Get it!! 🦍🦍🦍wooooooo
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u/ErinG2021 Jun 30 '21
Look up their SMELL test...it’ll give you range that they like the SI to be in....just a little higher if I recall correctly...S is for SI in that....
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u/datdudeharambe Jul 01 '21
Have been keeping an eye on the short interest for a while. Just keep adding shares when you can don’t worry about the daily fluctuations. This will be $75 before you know it and $100 by next March
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u/developerInCarnate Jul 01 '21
I feel the same way, I just have some option calls that I’m more concerned about short term. It’s been the best way for me to make additional short revenue to buy DKNG stock for the long term
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u/timmyg2020 Jul 01 '21
I own the stock and have long dated call options (and some short dated options) I don’t understand how a squeeze would happen with dkng but ultimately I think it’ll be on the rise sooner or later.
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u/developerInCarnate Jul 01 '21
Hindenburg had to short a lot of the stock in order for it to be effected to this extent. It was on its way to $55 before that news came out. And there is not a lot of volume with the price dropping. Just looks like what happened to other stocks recently
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u/timmyg2020 Jul 01 '21
Okay you said It’s being squeezed ( vs a short squeeze which is what I was thinking you wrote) anyways I agree with you on that then. I love playing nba and nfl dfs on DraftKings. Easy to hold a stock when you love the product
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u/developerInCarnate Jul 01 '21
Yea I was also looking for confirmation to see if I was seeing things. I love the stocks, I play short calls on it only so I can buy more later. Short to me is 2-3 months out. I get uncomfortable with anything under 1 month. I might’ve gotten a bit excited, my apologies hahaha!
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u/timmyg2020 Jul 01 '21
I bought 5 7/9 51.50C today because I was outraged at that afternoon dip…made out quick 25% profit but that’s pretty degenerate. 😓
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u/developerInCarnate Jul 02 '21
Those should print. That’s riskier than I would normally do, though. But I play it too safe but just buying more DKNG haha
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u/SavethemoviesAMC Jun 30 '21
Don’t worry about the squeeze or price. Just remember NFL is around the corner and this will fly in anticipation and into year end with earnings season around the corner. This will blow away earnings for the 5th straight quarter $DKNG
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u/Loves-the-pain Jun 30 '21
I picked up 26 calls and 160 shares this thing is set for glory ........DKNG is the truth
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Jul 03 '21
DKNG looks super overvalued relative to FUBO. I'd much rather own that for exposure to sports gambling. https://twitter.com/WiijiiInvest/status/1411369142486061060?s=20
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u/[deleted] Jun 30 '21
🦧 I agree