DKNG Trade on Jul 17, 2020 09:57 from Cklamb: Tradervue User Stock Trades.

DKNG
Intraday Fundamentals
• Second day Play on news of new betting line from lacrosse
• Up 10% yesterday and trading above yesterday’s HoD
Technicals
ADV 12.55 RVOL 1.47 ATR 3.04 Short 9% Inst Own 11.30%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• Look for a long under 36 or just above 35 at the open if it moves for an early gap close
• If 36 hold for the open wait for a pull back into VWAP later in the opening and expect a trend day
• If 38 rejects take a light short back into 37, and start looking for the long that may break 38
• If this starts to hold 38, take a long small with a deep stop and look for this to test 40
• VWAP test and SMA Momentum trades
Reading the Tape
I did see enough selling on the tape in the earliest trade to think that I did not think that the my VWAP target was not going to get it in the duration that I had planned for.
Trade Management
Trade Notes
I took this on plan as gap close and the momentum seemed like it may actually hold that. It was a large seller at 36.40 that made me think I would be able to long this again maybe even off 35.50.
There was no reason to be looking for this thing long at 36 other than it was round number. I did not see anything on the tape that would have led be to believe that this may reverse off 36 and needed to stay away.
I planned on adding to this in the manner that I did thinking that this would retake 36. It was managed well enough to get me a small win and leave a little if it did start to move higher.

I tried hard at this at 35.50 level. I was really jsut wrong but manged these 4 trades to a decent gain.