DKNG looking to resume higher after completing the pullback
|The Draft Kings, Inc. ticker symbol: DKNG is a digital sports entertainment and gaming company engaged in providing online sports betting. Online casinos, daily fantasy sports product offerings, Draft Kings Marketplace. Retail sports betting, media and other gaming product offerings. consumption. It operates through the following segments: Business-to-Consumer (B2C) and Business-to-Business (B2B). The business-to-consumer segment includes sports betting, iGaming and DFS product offerings, as well as media and other consumer product offerings. The Business-to-Business segment includes the design and development of gaming software. The company was founded by Jason D. Robins, Matthew Kalish, and Paul Liberman on December 31, 2011 and is headquartered in Boston, MA.
In this blog, we will look at the technical analysis on DKNG. In which, the super cycle degree wave (I) ended at $74.38 high and made a 3-wave pullback against all time lows within wave (II). The internals of that pullback unfolded as zigzag correction where wave cycle degree wave a ended at $39.93 low. Wave b bounce ended at $64.58 high and wave c ended at $9.78 low. Thus completed wave (II) pullback. Up from there, the stock made a 5 waves rally & ended cycle degree wave I at $49.57 high. Down from there, the stock made a 7 swings lower pullback and completed wave II pullback at $28.69 low. Near-term, as far as dips remain above $28.69 low and more importantly above $9.78 low expect stock to resume the upside.
DKNG weekly Elliott Wave analysis
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.