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GNOG Stock Analysis: GNOG (Golden Nugget Online Gambling), previously known as LCA (Lancadia Holdings) is an online gambling company with an immense amount of potential upside. Recently, GNOG stock has seen an immense amount of selling pressure. In this GNOG Stock Analysis video, we discuss a macroscopic and microscopic overview of the company. We also establish levels of support and resistance for both investors and traders, analyze the 200 EMA (Exponential Moving average), 20 VWMA (Volume-Weighted Moving Average), RSI (Relative Strength Index), bullish and bearish trends, technical analysis chart patterns, and potential entry and exit points for traders and investors.
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What is up, everybody welcome to traders trades where you get technical analysis and different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks, i like the premise by saying that i'm not a financial advisor nor expert - i am Just some random dude on youtube, so take what i say with a grain of salt. The reason i started this channel is because a couple years back, i was about 30 000 deep, it's a pretty bad medical debt and i was very fortunate to have some close family friends and mentors that pushed me to work really hard and invest my money, and I am happy to say that not only am i not financially free, but i'm living pretty well for myself at the age of 23 and guys i got my undergraduate in nutrition, so i promise you. Anybody can learn this and if i can pass along any of the information resources or tools that are given to me, make the community a little bit better off than it was before. That's all a guy can ask for.

Lastly, if you wouldn't mind dropping a like on the video, it really does help support the channel and consider subscribing if you'd like to see more content like this. As i do post videos every day now, quick shout out to the guys over the patreon, we did have some new members joining about 57 strong dave, ricardo, amit, iodell, jaden, mecca, ridgeway, alec, arthur and antana. Thank you very much for supporting the channel really does mean a lot to me. They will have access to the private discord as well as real-time insight to my personal training.

So if you're interested in joining there is a link down below in the description box. For my patreon now today we're going to be giving an update on ticker symbol, gnog golden nugget, online gaming incorporated and this stock guys is so extremely undervalued. It is. It is mind-blowing to me that with as much potential as they have that this is all they're currently trading at, i think the big thing is that you know we did see that merger take place and and seal off about 10 days ago uh they did move Their ticker symbol from lca to golden nugget.

It was a spat play before and i think you just saw a pretty harsh sell-off in the momentum. Just recently stopped. You know we are. We are getting a little bit of a consolidation phase and uh.

It's looking pretty solid from here, so uh we're going to talk about a couple different things today: the overall volume, the rsi indicator, uh the 200 ema, the exponential moving average, the 20 day volume adjusted moving average. The vomit we're going to look at this from a macroscopic point of view and a microscopic point of view and look at some new levels of support and resistance on both the one month and the one day chart. If you're not familiar with what golden nugget online gaming is they're an online casino and gambling company um, they have all sorts of different stuff different slot machines. They've got poker, blackjack roulette.

I used to be a big blackjack player back in my day, but you know we're in the market now making money as a business and not gambling. That's what i love to do. That's uh, that's called personal growth. My friends, anyways they're, a great company and uh dkng draftking, is really their only competition on the market at this given moment, and i do think that golden nugget is extremely undervalued.

I did talk about this in my previous golden nugget video, but golden nugget online gaming is now public and worth up to 65 percent, more and they're, currently under valued and i'll just read you. You know one piece of this that uh that stuck out to me. The most genocide stock is trading for about 12 times its revenue on an enterprise value basis, but dkng stock trades at about 19.5 times, uh enterprise value to sales, and if we do the math on that - and we change that to 19.5 times for golden nugget, that Is about 33 per share or 65 above its price on january 5th, and now we can say uh about the same on january 8th. So this article is a couple of days old, we're looking at it was published on the 7th.

So you know this is uh. I would say pretty relevant and you know honestly: dkng draftkings has not been hitting their earnings for the last couple of weeks. If you look at them, each quarter they have been dropping down. They've been missing their overall earnings and uh.

You know q4 if they continue that trend, i wouldn't be surprised with a little bit of a drop. Revenue has gone up, but their earnings has gone down, as you can see um through the last three years. Now i am bullish on draftkings right. I do think they have a lot of potential as a company.

I can see this being a 100 stock in the future. However, golden nugget online gaming is a really relevant uh second based competition, and if you look at this as a mid to long term investment, it is, you know, recommended that it's going to go up. It's recommended as a hold or a buy by yahoo, and i am on the same page with that they are a 1.32 billion market cap company. I do see this exponentially increasing as the states move forward with legalizing gambling um throughout the next.

You know year or so, even if we just have a couple more states legalize online gambling. I think that's going to be huge for the stock price and it's going to shoot up exponentially. That 65 number, that you saw right here right that is based on their uh current. You know um enterprise value basis right.

So if online gambling becomes more, you know open and more um, legalized in the states. That number is going to go up right, their overall enterprise value is going to go up and then, if you take that 19.5 times, enterprise value to sales ratio and multiply it. Conversely, you're going to have that same increase, and i would not be surprised with this company being a 40 to 50 company at the end of 2021, if we do have more states legalized gambling throughout, there is no other current stock news that is out. Besides this, the last thing that is really out is um.

You know that acquisition from lca over to golden nugget online gaming, the spec you know, did take place. The merger date is beyond us now um, and that is why we are seeing this overall. You know bearish trend, as is typical of overall spec deals. Now we're going to run over a couple of things: real, quick uh, the overall support levels, we're looking at currently are 1887 and 1982, followed by resistance right around 2160 and 47..

You know we do have a couple different contact points here, acting as prior levels of support and the resistance in the charts and then right here we have one two, three, four, five um six different contact points acted as support a couple of times here active support. Here you know so pretty relevant levels of support, currently trading in a pretty tight um price window. You know just looking at the charts right off the bat here. We do kind of see a funneling action happening on golden nugget online gaming, which is typically a bearish indicator, and this overall ascending wedge formation.

Typically, if you break through this trend line that we're seeing right here right if we break through this trend line uh in either direction, but typically it's for the upward momentum, especially since we've kind of seemed to have found a bottom. If we break through that trend line, that is very bullish and you typically see some pretty harsh movements. A perfect example of this is jag x. You can see when we break through this trend line on a bullish flag, which is a very similar pattern, not quite the same but very similar.

Typically, when you push through that, you have some pretty sharp. You know uh increase in price valuation and i do see that starting to form on g-not golden nugget online gaming. You know, i do think it's going to take a couple more days for this price action to really start tightening up, but it is looking very promising - and i do see this - you know eventually in the next week or two i'm pushing back up and starting another Bullish run, we are currently in bearish territory. We did have a crossover on the 20 day volume adjusted moving average, which is an average valuation trend line based on overall volume going into the stock over a 20 day period and the 200 ema, which is a 200 day.

Moving average valuation trend line on price action over the last 200 days and anytime that you see this vomit across underneath the 200 ema that is extremely bearish territory and the larger the gap, the more bearish you are looking out of stock. So what we're going to be looking for is a crossover from the vama back over the 200 ema, and that will give great confirmation that we are back in bullish territory, the larger the gap between these two indicators, the more bullish. We are looking the stronger confirmation that i have that we're going to continue a bullish run, but as of right now we are in bearish territory. So what does this mean for mid to long-term investors right? This means that now is a great time to buy and i will disclose that.

I don't currently have a position in golden nugget online gaming, but i am planning on getting one. So i have a pretty nice margin and uh. You know return on both pte and jagx they're, currently, some of my swing trading opportunities and i plan on taking profits from both of these stocks when i do sell out of them on monday and moving it into golden nugget online gaming. As i do see, very solid potential, i'll probably be putting about you know three to four thousand dollars into golden nugget and leaving the rest for some more swing trading opportunities, as i do see some very solid growth potential for these guys over the next year.

I'm not surprised whatsoever if they do reach over thirty dollars. Even forty dollars is really possible because currently i think they are worth you know about thirty, three dollars and ninety two cents. I do believe um in what this article is saying: um they are currently undervalued. They have been harshly oversold now, if you look at the rsi indicator, you know we have been in oversold territory for about three days back here, currently pretty neutral, as you can see by the consolidation, that's happening between these price zones, but i do see some very Solid um rebound action happening in the future, and now is the time to buy.

I'm telling you this is going to be a great company. I really strongly believe in what they're doing and it looks like we may be approaching a bullish trend reversal, so you're going to be watching for a crossover. This uh this overall downward trend line from the top point right here at 26.61, and if we do break through this trend line, it is going to be bullish territory from there. The next we're going to be looking for confirmation from this 20 day, vomit over the 200 ema, as we've seen in the past, and that will signify to me a shift back into bullish momentum and an overall bullish trend that i can, you know confidently say, will Hold for some time to come now, if we look at the stock, you know on a one day, one minute chart.

Oh. Lastly, i forgot to touch on the volume pretty standard stuff, nothing out of the ordinary, no crazy spikes. You know we did see some pretty harsh red action, red bars in the volume uh sell-off after the merger did take place and since then it's been pretty even keeled. We haven't seen much right and i do anticipate it will most likely stay the same until there's.

Some news that comes out maybe states legalizing online gambling. Maybe a company takes a stake in uh g-nog. You know we're gon na be looking for things like that. Otherwise, i don't really see any volume action changing in that in that sense, so currently we're looking at uh support on the one day.

One minute chart right around here at 1969 from yesterday and then again at 1961. Another level of support currently sitting right around uh 1991 and then resistance is looking right around here at 2060, followed by another level of resistance sitting around 2039. And if we do look at this one day, one minute chart we have a pretty nice funneling. That's happening right here.

I would call this a nice wedge formation, a tightening of price action and we're going to be looking to continue this into the pre-market tomorrow. Now pre-market and after hours trading is a little bit different than you know. Overall, regular hours, uh market trading, so it's not, you know guaranteed that we're going to continue this trend as it is. You know an overall different entity, but if we do break through this overall, you know wedge formation that we're seeing right now.

That is a very strong bullish indicator if we do push through the upward trend line, if we push through the downward trend line, that is bearish territory and we are likely to test out some of these previous levels of support. I am loving this stock guys as a mid to long term investment under 20 dollars. I think you're going to see exponential returns in 2021 and as a dairy swing trader, currently we're in some. You know consolidation phase right now.

I don't think this is a great stock, the day or swing trade, but if you are looking to long this stock, you know you're, probably looking at an entry anywhere between 1991 1969. You know riding it up to then what would be acting as a level of resistance watching for a push through. If you see one ride it out, if you don't get out once you see the bounce shorting the stock, you know you're, probably looking at something similar to this, where maybe at market open. You see a sell-off.

We test out this level of support. You see it bounce to get out. Maybe you see us test out this level at 2060. You see this bounce back down to a previous level of resistance, then acting as a level of support and you get out right, um but, like i said, i think, there's better opportunities in the market right now than g-nog for day or swing trading opportunities.

So, personally, i would recommend that you check out another stock with some more volatility, because that is your best bet for seeing quick, quick, flips and quick margins on your on your investment. You know you're not looking at much on a 20 return on a 20 stock, so just be on the watch for that, and that is what i currently have on: gina golden online gold nugget online gaming and the update in that sense. So if you enjoyed the video, please drop a like, it really does help support the channel. Consider subscribing if you'd like, to see more content like this, as i do post videos every day and lastly, i have an affiliate link in the description box down below for tubebuddy, now two buddies, an seo optimization website that i personally pay a nine dollar per month.

Membership fee for - and this is highly what i attribute growing from zero to three thousand subscribers in 22 days too. So, if you're a content creator or looking to become one, i could not highly recommend this enough. It helps get your videos into the eyes of your intended audience and it's a great tool. If you use my link, i will receive a commission off of your purchase at no extra cost to you and it's a great way to support the channel and, if you're not interested, that's totally fine.

I'm just glad to have your support by watching my videos. So that's what i have for the video today. Thank you for watching my friends and i will see you all next time. Peace,.

By Trey

20 thoughts on “Gnog stock massive buying opportunity! $40 eoy // gnog stock update 2021 technical analysis”
  1. Avataaar/Circle Created with python_avatars Sheila megan says:

    I believe every stock investor invests for the sole reason of growing their funds and earning higher returns, but these days the stock market is very slow and most people ain’t smart enough to know that the best time to buy stocks is when the market is down, A key principle of investing in the stock market is 'buy low and sell high' For example, the people that made a lot of money from Tesla stock bought it at $17 each in 2010 and sold for $498 in august 2020 Ive been into stocks for a long time now, and I can boldly testify that stocks won’t give you the kind of profit you’re looking for if you buy it when it has gotten to the peak price already, I was investing in stocks and wasting my time until 4 months ago when I met someone who introduced me to crypto mileage and everything I needed to know about bitcoins, I switched from stocks to bitcoins, I started trading with the little 0.5 btc I had in my bitcoin wallet I didn’t know it will turn out this big for me, within a month of trading with crypto mileage I earned over 4 btc, as I continued trading with crypto mileage my portfolio tripped from 4 btc to 12 btc and as of now I earn about $11,000 weekly.. for more information and screenshots of withdrawals text via Telegram @shaynenelson.

  2. Avataaar/Circle Created with python_avatars Moneyking Kevo says:

    I brought 5 shares of this last Thursday…i hope it goes up soon

  3. Avataaar/Circle Created with python_avatars Subhash Rao says:

    Hey man, great chart! Can I request for JMIA, SNOW and HOME? Thanks!!

  4. Avataaar/Circle Created with python_avatars Adriano Taormina says:

    I got in at $23.. should I buy another 20 shares?

  5. Avataaar/Circle Created with python_avatars Luis Magallon says:

    What do you think on ROMEO? THANKS

  6. Avataaar/Circle Created with python_avatars Cruz says:

    GNOG easy money but BNGO better buy 😉

  7. Avataaar/Circle Created with python_avatars msk says:

    Jim cramer is sponsored by DraftKings and therefore cant pump gnog

  8. Avataaar/Circle Created with python_avatars msk says:

    4k shares holding long and strong

  9. Avataaar/Circle Created with python_avatars 40indyuk says:

    Catalysts Michigan vote & Q4 results due this next week

  10. Avataaar/Circle Created with python_avatars Z T says:

    350 shares here for long

  11. Avataaar/Circle Created with python_avatars Raf S says:

    1375 at 16.70 waiting for some good movement

  12. Avataaar/Circle Created with python_avatars Frank Barone says:

    Great value, don’t wait for the the run that’s coming.

  13. Avataaar/Circle Created with python_avatars SoFreshABM says:

    Great analysis!!! Really on point !!! 👍🏾

  14. Avataaar/Circle Created with python_avatars Ellie C says:

    Good morning 😊Let’s gooo🚀🚀🚀

  15. Avataaar/Circle Created with python_avatars è asian phoenix says:

    Meanwhile i alr have 200 shares at 20.20

  16. Avataaar/Circle Created with python_avatars è asian phoenix says:

    Mate.. speak slowly!.. u talked way too fast…

  17. Avataaar/Circle Created with python_avatars GRIND:30 says:

    Been increasing my position in this. Finally at 100 shares. I know its not big shares for some but for me im happy with it.

  18. Avataaar/Circle Created with python_avatars Moonbeam Magic says:

    Good morning early bird. Thanks for this info.

  19. Avataaar/Circle Created with python_avatars Roger Wellington says:

    Happy Saturday Trey the Truth .. Will continue to add to my position.. Good work as always

  20. Avataaar/Circle Created with python_avatars Eric McDuffie says:

    whats up whats up !!!💯💯💯

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