DKNG Oversold?
DKNG has suffered from massive selling. The stock fell from its highs of $65 in September, to about $50. It consolidated for a month in a parallel channel and then broke below. Measuring the downside move from the bearflag/ABC pattern places DKNG at current levels ($35). We are currently sitting at a support level that was created back in October/November of 2020. Additionally, RSI reads that we are overextended to the downside. The last time we had a reading this low was at the same support from Oct/Nov. DKNG bounced about 40% from those lows. If we begin to close above this steep downtrend channel that we are in, we could look for a retest of the 0.618 fib level which happens to be around $40.
Ordine annullato
Looks like this never broke significantly above the channel so no trade was taken.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.