- Cathie Woods Ark Invest has recently added $1.5 Million in DraftKings Stock.
- Technical indicators of DKING are favoring consolidation. It is currently trading near $11.48 with a drop of 1.96%
DraftKings Inc is a daily fantasy sports and sports betting company based in Boston, Massachusetts. The company was founded in 2012 by Jason Robins, Matthew Kalish, and Paul Liberman, and has since become one of the leading players in the daily fantasy sports industry. In addition to its daily fantasy sports offerings, DraftKings has also expanded into the sports betting market, becoming one of the first companies to offer legal sports betting in the United States after the Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018.In addition to its online platforms, DraftKings has also partnered with several major sports leagues, including the NFL, MLB, and NBA, to offer sports betting at physical sportsbooks in states where it is legal. Meanwhile recently Cathie woods Ark invest has added approximately $1.5 Million in Draft King.Various analysts are expecting a strong growth in the stock price after NFL week.
Draftking has a market cap of $5.153 Billion and is expecting to grow more in the current year. DKNG stock is currently down by more than 50% from its 52 week high. NFL week can push the price to a new high.
Technical Indicators Are Favoring Consolidation
DraftKings has been in a downside trend for a past few months. It is currently seeing a downside on the weekly technical chart.On coming to the daily chart it is currently trading near $11.48 and has seen a drop of more than 1.96% in the intraday session. The support of the DKNG can be seen near $9.5.Meanwhile the resistance of the coin can be seen near $15.It is currently trading below the 50 and 100 DMA.It can see a positive crossover which can push the price to a new high.
Conclusion
DraftKing has been affected by the downside trend of the overall market. DKNG is currently seeing a consolidated trend and can move to a new high.
Technical Levels
Major Resistance:$15
Major Support:$9.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/01/06/draftkings-inc-stock-price-prediction-will-nfl-week-put-a-target-of-20-in-dkng-stock/