DKNG - It's a great time to bet on Draftkings

Draftkings has been practically in free fall mode over the past 3-4 weeks due to profit taking and dilution. Today's daily closing candle was a hammer which typically precedes a trend reversal. We have confluence because this also occurred on the trendline. Buyers stepped in to defend the uptrend at a key level. I am personally going long here with a stop $40.23 just below today low. I am targeting the 50% fibonacci retracement level which is around $52.