$DKNG - RC -
Added 2024-04-30 09:25:02 +0000 UTC$DKNG rejected at its 50 Day MA yesterday after making a good attempt at getting above it, initially broke above but it did not manage to stay above the $43 level.
The impulse wave looks structured very well for me and what is most interesting is how Wave 5 was very obedient to the rules of EWT.
Subwave 2 held at the 0.5 Fib and Subwave 4 held at the 0.38 Fib, so I would be happy to confirm that this Wave 5 completed.
Where Wave A completes is always a tricky one, it likely comes down to where the 200 Day MA is, usually we set Wave A at the 0.38 Fib but the 200 Day MA is above this now at $36, so we would need to assume that some support will be found here.
So be mindful of this leading into earnings on Thursday.
