This chart shows how DKNG made a small jump following a strong quarterly report and guidance hike on August 6. It initially hit resistance at the 200-day ( ), but proceeded to break out about two weeks later.
Second, notice the succession of higher lows since July 2020. This shows ongoing acceptance of continuously richer prices. The weekly chart also highlights the fast rebounds after the drops, revealing potentially eager buyers:
Third, the 50-day has turned higher and is approaching the 200-day SMA: a looming “golden cross.” That could suggest DKNG’s longer-term trend is turning again.
Finally, the recent jump may be followed by a deeper pullback before the buyers jump in again. Traders may want to watch the mid-August high around $54.70 or the June high around $56 as important levels.
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