DKNG Trade on Aug 14, 2020 09:49 from Cklamb: Tradervue User Stock Trades.

Trade Reviews
DKNG
Intraday Fundamentals
• DraftKings Inc. shares fell (DKNG) 5.7% in premarket trade Friday, after the company posted a bigger-than-expected loss for the second quarter but sales that topped estimates. The stock had already taken a dip after a Bloomberg report that the Internal Revenue Service will require fantasy sports companies to pay federal excise tax on their entry fees. Boston -based DraftKings said it had a loss of $161.4 million , or 55 cents a share, in its fiscal second quarter to June 30 , wider than the loss of $28.1 million , or 15 cents a share, posted in the year-earlier period. Revenue rose to $70.9 million from $57.4 million . The FactSet consensus was for a loss per share of 20 cents and revenue of $66.4 million . The company said pro forma revenue, including its merger with SBTech (Global) Ltd and Diamond Eagle Acquisition Corp. , as if it had been completed on Jan 1 . 2019, would have been $75 million . The company ended the quarter with more than $1.2 billion in cash after a follow-on offering. The company said it saw increased engagement on its platform toward the end of the quarter as sporting events began to resume. "This positive momentum has accelerated with the return of MLB, the NBA, WNBA , the NHL, and MLS," it said in a statement. DraftKings is now expecting pro forma revenue of $500 million to $ 540 million for fiscal 2020, equal to growth of 22% to 37%. The company is not expecting any impact to its long-term plans from COVID-19. Shares have gained 237% in the year to date, while the S&P 500 has gained 4.4%.
Technicals
ADV 13.71 m RVOL .92 ATR 2.47 Short 8.32% Inst Own 26.5%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• Look for a long at 33.20ish if this fails wait for it to hold and get some additional check marks before taking it long here
• Short may be available at 34.25 if this flushes to 33.50 first and tries to overcome this level
• VWAP Tests

I hit the entry on this. I was a little more aggressive with the limit and put one in as soon as the SMA broke after this pierced the level. I had 19 cents of risk out obeying the breaking candle as the first stop. This gave me three to one but, i tapped out to late or too early one of the two.