About a month ago, we looked at DKNG.
It had moved nicely after a breakout and was consolidating, possibly building up momentum for a break above $34.50.
It’s creeping toward that level now:
In that same sector, IGT (International Game Technology) is doing the same thing.
It’s consolidating its energy for a possible breakout:
With a lessening of inflation and some bullish conditions, one or both of these stocks could surge strongly if they can break their trigger level. ($34.50 for DKNG; $34.00 for IGT)
The hottest one — the one that will run the most — will probably break first.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
