DKNG Technical Analysis - DRAFTKINGS INC-CL A

Technical Rating and Analysis

Overall DKNG gets a technical rating of 0 out of 10. DKNG scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

88% of all other stocks performed better in the past year than DKNG.

DKNG is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month DKNG has a been trading in the 32.78 - 46.32 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.

DKNG has an average volume of 11511000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The short term trend is negative, the long term trend is neutral. Not much exciting going on here.

DKNG is an average performer in the Hotels, Restaurants & Leisure industry, it outperforms 40% of 135 stocks in the same industry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

DRAFTKINGS INC-CL A / DKNG Weekly stock chart

DRAFTKINGS INC-CL A / DKNG Daily stock chart

Setup Rating and Analysis

The technical rating of DKNG is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

32.40

47.64

We found 1 important support area.

Support @32.73 from a trend line in the weekly time frame.

We can see 3 important resistance areas.

A resistance zone ranging from 40.82 to 41.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @42.73 from a horizontal line in the daily time frame.
A resistance zone ranging from 46.80 to 47.17. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	NEUTRAL	NEUTRAL	The long term trend for DKNG is neutral.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for DKNG is down.
ChartMill Relative Strength	12.19	NEGATIVE	DKNG has a low relative strength, it was outperformed by 87.81% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of DKNG is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of DKNG is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of DKNG is below a declining SMA(200).
Relative Strength Index/RSI (14)	14.87	OVERSOLD	The low RSI value suggests DKNG may be oversold.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.98	NEGATIVE	The MACD value suggests DKNG has a negative trend.
Stochastics (14,3)	3.18	OVERSOLD	The low Stochastics value suggests DKNG may be oversold.
Average True Range in percent/ATR (20)	4.92	MEDIUM VOLATILITY	The ATR as a percentage value for DKNG suggests some volalility.
Average Directional Index/ADX (14)	36.86	POSITIVE	The high ADX value value for DKNG suggests a strong trend.