Technical Traders Must Watch DraftKings Inc. (DKNG)


DraftKings Inc. (NASDAQ:DKNG) went up by 4.44% from its latest closing price when compared to the 1-year high value of $44.79 and move down -21.28%, while DKNG stocks collected -5.45% of loss with the last five trading sessions. Barron's reported 1 hour ago that Why Stocks Are Rising Even as Investors Pull Out From Equity Funds

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DraftKings Inc. (NASDAQ:DKNG) Worth an Investment?

DraftKings Inc. (NASDAQ: DKNG) scored price to earnings ratio above its average ratio, recording 671.45 times of increase in earnings at the present.

DKNG Market Performance

DKNG stocks went down by -5.45% for the week, with the monthly jump of 12.08% and a quarterly performance of -8.04%. The simple moving average for the period of the last 20 days is 4.80% for DKNG stocks with the simple moving average of 66.26% for the last 200 days.

Analysts’ Opinion on DraftKings Inc. (NASDAQ:DKNG)

Many brokerage firms have already submitted their reports for DKNG stocks, with Morgan Stanley repeating the rating for DKNG shares by setting it to “Equal-Weight”. The predicted price for DKNG socks in the upcoming period according to Morgan Stanley is $37 based on the research report published on August 28, 2020.

The Benchmark Company, on the other hand, stated in their research note that they expect to see DKNG stock at the price of $45, previously predicting the value of $47. The rating they have provided for DKNG stocks is “Buy” according to the report published on August 17, 2020.

The Benchmark Company gave “Buy” rating to DKNG stocks, setting the target price at $47 in the report published on July 31, 2020.

DKNG Stocks 6.27% Far from 50 Day Moving Average

After a stumble in the market that brought DKNG to its low price for the period of the last 52 weeks, DraftKings Inc. was unable to take a rebound, for now settling with -17.55% of loss for the given period.

The stock volatility was left at 6.98%, however, within the period of a single month, the volatility rate increased by 7.38%, while the shares surge at the distance of +11.71% for the moving average in the last 20 days. In oppose to the moving average for the last 50 days, trading by -3.46% lower at the present time.

In the course of the last 5 trading sessions, DKNG went down by -5.45%, which changed the moving average for the period of 200 days to the total of +266.37% of gains for the stock in comparison to the 20-day moving average settled at $35.43. In addition, DraftKings Inc. saw 245.14% in overturn over the period of a single year with a tendency to cut further gains.

DKNG Stock Insider Trading

Reports are indicating that there were more than several insider trading activities at DraftKings Inc. (DKNG), starting from Levin Woodrow, who sold 3,112 shares at the price of $38.80 back on Jun 23. After this action, Rushing now owns 10 shares of DraftKings Inc., valued at $120,746 with the latest closing price.

Levin Woodrow, the Director of DraftKings Inc., sold 50,000 shares at the value of $38.80 during a trade that took place back on Jun 23, which means that Levin Woodrow is holding 229,810 shares at the value of $1,940,000 based on the most recent closing price.

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