Long Position on DKNG @ $17.75 on 4/6/2023 (Momentum)

DraftKings Inc. (DKNG) operates a digital sports entertainment and gaming company. 

It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries.

The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.

Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. The company's daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories.

In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company. 

Shares are heading higher along an upward trendline which coincides with the stock's 50-day moving average.  Higher share prices are expected.

Entry Point: $17.75

Trading Range: $9.77 to $21.62

Stop Loss: $16.75

Target Price: $19.55

Position closed on 4/17/2023 at price of $19.70 with a 10.99% gain in 11 days.

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