DKNG
Intraday Fundamentals
• BOSTON , July 09, 2020 (GLOBE NEWSWIRE) -- DraftKings Inc. (DKNG: NASDAQ) and Twin River Worldwide Holdings’ (TRWH: NYSE) Mardi Gras Casino announced the opening of their temporary retail sportsbook at the Mardi Gras Casino in Black Hawk, CO. Guests will be able to begin placing bets at the DraftKings Sportsbook beginning Friday, July 10 . The temporary sportsbook, located on the first floor of the casino, will feature eight self-service betting kiosks, a cashier window and several large flat screened TVs throughout the space.
• “As our partners at Mardi Gras Casino work to expand their current operations and location, we are thrilled to come together to provide the most exciting, real time gaming opportunities as sports begin to make their return,” said Ezra Kucharz , DraftKings’ Chief Business Officer. “DraftKings and Mardi Gras Casino are committed to providing a safe, immersive and entertaining gaming environment to ensure sports fans in Colorado have the most enjoyable experience possible.”
• The DraftKings Sportsbook at Mardi Gras Casino in Black Hawk, Colorado will be the seventh DraftKings -branded retail location, joining locations in Iowa , Mississippi , New Jersey and New York . Construction of the permanent sportsbook location is underway. Once complete, DraftKings and Mardi Gras Casino will unveil the state-of-the-art sportsbook which will include a large feature bar, an expansive wall of TVs and VIP Lounge area access. Sports fans in Colorado will now be able to legally place bets on all major U.S. sports, including professional and college football, baseball, professional and college basketball, hockey, golf, auto racing, among other sports both online and in person.
• “This partnership with DraftKings allows us to provide an unmatched sports betting experience to Coloradans, not only with their mobile betting access, but also with this exciting DraftKings retail sportsbook location,” said George Papanier , President and Chief Executive Officer of Twin River Worldwide Holdings . “We are looking forward to introducing our guests to the fully renovated space in the coming months and until that time, are glad to be able to give our guests the ability to safely start placing bets as many professional sports begin to resume in the coming weeks.”
Technicals
ADV 11m RVOL .93 ATR 3.11 Short 5% Inst Own 8.8%
Daily Chart
Hourly Chart
Intra Chart
Trading Strategy
• Look for a long at the gap fill at 33.2 ish , it is looking like this will close before the open and I may need to re plan
• There is a support play around 32.70 and 31.75 working yesterday’s range
• If this breaks 34.50, look for the retest and a small flush back into 34.25 and get the long as close to the lower end of that ranger stopping under 35
• Test of the opening range, VWAP tests and SMA momentum plays after intraday levels
Reading the Tape
The tape got me in trouble on the first trade, I believe that I was seeing what I wanted to see.
Trade Management
Trade Notes
I would try and catch this twice on a late day break of the prior’s day. I think I could have just held the first long through and done a little better. However, I limited the loss and it was easier to make up when I got for doing so. I would work this for the break later. But, I was pushing a bit for one last trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-09 14:56:59 | DKNG | buy | $32.690 | long |
2020-07-09 14:56:59 | DKNG | buy | $32.690 | long |
2020-07-09 14:58:43 | DKNG | sell | $32.740 | long |
2020-07-09 14:58:45 | DKNG | sell | $32.740 | long |
2020-07-09 15:04:57 | DKNG | sell | $32.750 | long |
2020-07-09 15:08:33 | DKNG | sell | $32.800 | 0 |
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