The VoSI VooDoo ReportOffbeat Ideas and Commentary from the Depths of Gil's Trading NotesThis morning
DraftKings (DKNG) is posting a potential buyable gap-up (BGU) as it gaps up through its 50-day moving average. This could be considered actionable as a BGU using the intraday low as a selling guide but in my view it is much better to be long this from the lows on Tuesday morning based on my prior VooDoo Report over the weekend that pegged the bottom in this using my Custom VPA U&R Chart View on HGS Investor Software. That would yield a 16% end to end move in three days. Not bad work if you can get it - and you could have based on my discussion over the weekend.
This is what DKNG looks like on a more orthodox chart view using standard moving averages. The tall neon green volume bar indicates enough volume for a BGU, but in my view this move may be exhausted at this point. Again, the chart view above is one I have developed to give me an edge since it shows me a technical picture that is not based on obvious technicals and therefore price information that is not available to the crowd.
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