Beware of the bull trap

$DraftKings(DKNG.US)$ Looking at the 3 days chart, it looks like $DKNG is bottoming. But the fact that it couldn't break $51 is a sign that the bears are still in control. Last friday it closed slightly below $48. The bulls must be hanging on for breath, hoping market will rebound next week.

But imagine once it starts to break lower, all the stop losses will be triggered and you can expect some fireworks. Just be careful in this market and not be over bullish or bearish. Respect your plan and your stop loss. Don't double up a losing position and don't remove your stop loss especially if you are trading options. Time is not in your favor. The market is still in a distribution phase, which means it will be choppy. Let the price action shows you the way. Good luck traders. Cheers.