Million

Resistance

Simply

Billion

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>DraftKings price increased by 2.09% over the past seven days.</a> </li> 
 <li> <span>2</span> <a>DraftKings Inc. (NASDAQ: DKNG) stock’s 52-week price range is $17-$32.</a> </li> 
</ul> 
<p>DraftKings stock’s earnings have been dropping by an average of -38.7% per year, as reported by Simply Wall St., a financial website. This is lower than the annual earnings growth of 15.7% for the hospitality industry. DraftKings stock’s revenues have also been rising by an average of 58.7% per year.</p> 
<p>DraftKings has a shareholder equity of $1.0 Billion and a debt of $1.3 Billion, which gives it a debt-to-equity ratio of 123%. As per Simply Wall St., its assets and liabilities are $3.7 Billion and $2.7 Billion, respectively.</p> 
<p>The market capitalization of DKNG stock is $14.678 Billion and the total revenue is $2.24 Billion. Moreover, the stock’s basic EPS is negative $2.91 and the price-to-earnings ratio is negative 11.2. Moreover, the average volume is 9.654 Million and the current volume is 11.683 Million, where the current volume is above the average volume.</p> 
<p>Moreover, the DraftKings price has done well this month, increased by 19.92%, and surged by 111.30% in the last six months. DraftKings Inc. (NASDAQ: DKNG) stock has a positive year-to-date return of 1732.56%.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-draftkings-price-in-1-d-time-frame-strong"><strong>Technical Analysis of DraftKings Price in 1-D Time Frame</strong></h2> 
<p>The price action shows <a href="https://www.thecoinrepublic.com/2023/07/29/draftkings-stock-will-dkng-stock-hit-new-highs-after-earnings/" target="_blank" rel="noopener noreferrer nofollow">DraftKings Inc.’s ( NASDAQ: DKNG) stock price</a> has been on a rising trend for the last three months, increasing by 40.99%, and has taken multiple support on the trendline. At the time of writing, the DKNG stock price is trading and trying to sustain at $31.78.</p> 
<p>Therefore, the DKNG stock price could continue to move upward and reach the first and second targets of $33.85 and $36.38, if it maintains the current level. However, if the DKNG price fails to sustain at the current level and drops, then it might hit the nearest support levels of $28.98 and $24.21.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/vj6vvzYGhlrDCDKlz4i9smKLImsVJyumzlz4hPCtY2M9PcEuvrFqvYrkFYJTarPsJZ9MrWaRAYKrctvlaqqAs7D_DM2i5Gvt04ayN1jpCpXgboIvGEomnLgu-QRIRaQh9ZbZ36mu9PALgv5reieb3A" alt=""> 
  <figcaption class="wp-element-caption">
    Source: DKNG.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>At the time of publishing, DraftKings Inc. is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which supports the DraftKings stock price trend. Hence, DraftKings price is expected to move upwards giving bullish signals over the daily time frame chart.<br></p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/J7UDL0F141jXfthi93ewRRqnckcwzZ26E7ZHjlbffCyW78oKlOc-R0KLv_GucnEt5GC8kPxlILGqNsYxzstcX89a4U3qSZOMIkgTo_ntUlVTgE2kFAPKkjam4hPYT__nALBBnDF4cVLrCwRpun-x6g" alt=""> 
  <figcaption class="wp-element-caption">
    Source: DKNG.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>The current value of relative strength index (RSI) is 65.53 points. The 14 SMA is above the median line at 69.94 points, which indicates the DKNG price is bullish as the RSI is in bullish territory.</p> 
<p>The moving average convergence divergence (MACD) line at 1.52 and signal line at 1.52 are above the zero line in the MACD oscillator, which signals more bullishness for the DKNG stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>DraftKings Inc. (NASDAQ: DKNG) shows investors and traders of the stock are bullish on the 1-D time frame. The price action reflects a bullish outlook at the time of publishing. The technical parameters of the DKNG stock price also support the bullish trend. The major indicators- MACD, RSI, and EMA are giving positive signals and imply that the uptrend may continue in DKNG stock price.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li><strong>Support levels:</strong> The nearest support levels for DKNG price are $28.98 and $24.21.</li> 
 <li><strong>Resistance levels:</strong> The nearest resistance levels for DKNG price are $33.85 and $36.38.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

DraftKings Price Prediction: Is DKNG Stock Price a Winning Bet?

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