Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>DKNG stock price is trading below the 50 and 100-day EMA showcasing bearishness on the daily technical charts.</a> </li> 
 <li> <span>2</span> <a>DraftKings stock price is making lower low structures and is heading downwards.</a> </li> 
</ul> 
<p>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.</p> 
<p>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.</p> 
<p>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.&nbsp;</p> 
<p>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.</p> 
<p>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.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-will-draftkings-stock-price-break-the-200-day-ema-strong"><strong>Technical Analysis: Will DraftKings Stock Price break the 200-day EMA?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1273" height="577" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-619.png" alt="DraftKings Stock: DKNG Stock Price In Bears Control; What Next?" class="wp-image-177333" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-619.png 1273w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-619-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-619-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-619-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-619-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-619-1140x517.png 1140w" sizes="(max-width: 1273px) 100vw, 1273px">
  <figcaption class="wp-element-caption">
   Source: DraftKings.1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p>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.&nbsp;</p> 
<p>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 DraftKings <a href="https://www.thecoinrepublic.com/2023/10/07/draftkings-stock-will-dkng-stock-price-break-below-200-ema/" target="_blank" rel="noreferrer noopener">stock</a> is bearish.</p> 
<h3 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-draftkings-stock-strong"><strong>Weekly-Time Horizon Analysis: DraftKings Stock</strong></h3> 
<p>DraftKings stock has shown sellers’ strength on the weekly charts. Moreover, the price is below the 200 EMA, highlighting further weakness in the stock. The RSI curve is near the neutral region at 50, and a negative outlook was noted, indicating bearishness in the stock. The MACD indicator shows red bars, and a bearish crossover was noted, which signals corrective moves.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>DraftKings stock (NASDAQ: DKNG) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the DKNG stock price. DraftKings price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $25.13 and $22.87</p> 
<p>Resistance Levels: $29.02 and $32.75</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

DraftKings Stock: DKNG Stock Price In Bears Control; What Next?

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