Green day on Thursday for DraftKings, Inc.StockInvest.us, 10 months ago
The DraftKings, Inc. stock gained 3.61% in the last trading day (Thursday, 22nd Oct 2020), rising from $41.50 to $43.00. During the day the stock fluctuated 6.53% from a day low at $40.43 to a day high of $43.07. The price has fallen in 6 of the last 10 days and is down by -15.9% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 37 million shares were bought and sold for approximately $1.60 billion.
Rosenblatt Securities is very positive to DKNG and gave it "Buy" rating on October 13, 2020. The price target was set to $60.00 - $65.00.Over the last 30 days this security got 7 buy, 0 sell and 1 hold ratings.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $41.85 is broken, it will firstly indicate a slower rising rate, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 49.01% during the next 3 months and, with a 90% probability hold a price between $62.37 and $102.41 at the end of this 3-month period.
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DraftKings, Inc. stock holds sales signals from both short and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $44.07 and $49.44. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday October 02, 2020 , and it has fallen so far -32.58%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
DraftKings, Inc. finds support from accumulated volume at $42.53.
This stock may move very much during a day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.64 between high and low, or 6.53%. For the last week, the stock has had daily average volatility of 6.78%.
DraftKings, Inc. is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
The DraftKings, Inc. stock holds several negative signals and despite the positive trend, we believe DraftKings, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Check full DraftKings, Inc. forecast and analysis here.