DKNG Stock Price In Bears Control; What Next?
The post DKNG Stock Price In Bears Control; What Next? appeared on BitcoinEthereumNews.com. DraftKings stock price has been on a downtrend for the past three months, as it faced resistance from the higher levels and formed a lower lows structure. This shows that the bears have been in control and the stock has lost momentum. The stock has also broken below the key moving averages, which indicates further weakness on the daily technical chart. The stock has created a bearish pattern and lost the gains it made in the previous months. DraftKings (NASDAQ: DKNG) stock has returned to its previous breakout level, which could act as a support. Technical analysis suggests that the stock is oversold and could bounce back from the lower levels. DraftKings stock (NASDAQ: DKNG) price is in a correction phase but trading near to crucial support of $27. If formed, a bullish candle indicates buyers are active and will try their best to rebound. DKNG stock price closed the previous session at $27.07 with an intraday rise of 2.34%. If the buyers succeed in defending the current support, then the possibility of a bounce back will increase. However, if the sell-off continues and DraftKings stock drops below lower levels, more downfall is possible. Buyers tried multiple times to break the higher range and expand upward. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels. Technical Analysis: Will DraftKings Stock Price break the 200-day EMA? Source: DraftKings.1D.NASDAQ by TradingView DraftKings price is trading downward below the 50-day and 100-day EMAs showcasing a downtrend. However, the DraftKings price has gone far away from the EMAs. The MACD generated a negative crossover and the histogram is also red, indicating bearishness.The current value of RSI is 39.79 points. The 14 SMA is above the median line at 48.80 points which indicates that…
The post DKNG Stock Price In Bears Control; What Next? appeared on BitcoinEthereumNews.com.
DraftKings stock price has been on a downtrend for the past three months, as it faced resistance from the higher levels and formed a lower lows structure. This shows that the bears have been in control and the stock has lost momentum. The stock has also broken below the key moving averages, which indicates further weakness on the daily technical chart. The stock has created a bearish pattern and lost the gains it made in the previous months. DraftKings (NASDAQ: DKNG) stock has returned to its previous breakout level, which could act as a support. Technical analysis suggests that the stock is oversold and could bounce back from the lower levels. DraftKings stock (NASDAQ: DKNG) price is in a correction phase but trading near to crucial support of $27. If formed, a bullish candle indicates buyers are active and will try their best to rebound. DKNG stock price closed the previous session at $27.07 with an intraday rise of 2.34%. If the buyers succeed in defending the current support, then the possibility of a bounce back will increase. However, if the sell-off continues and DraftKings stock drops below lower levels, more downfall is possible. Buyers tried multiple times to break the higher range and expand upward. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels. Technical Analysis: Will DraftKings Stock Price break the 200-day EMA? Source: DraftKings.1D.NASDAQ by TradingView DraftKings price is trading downward below the 50-day and 100-day EMAs showcasing a downtrend. However, the DraftKings price has gone far away from the EMAs. The MACD generated a negative crossover and the histogram is also red, indicating bearishness.The current value of RSI is 39.79 points. The 14 SMA is above the median line at 48.80 points which indicates that…
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