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Checking in on DraftKings Inc. (DKNG) after recent insiders movement

DraftKings Inc.’s recent filing unveils that its Director Moore Jocelyn unloaded Company’s shares for reported $51434.0 on Jun 06 ’24. In the deal valued at $36.66 per share,1,403 shares were sold. As a result of this transaction, Moore Jocelyn now holds 5,411 shares worth roughly $0.2 million.

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Then, Moore Jocelyn sold 1,450 shares, generating $52,084 in total proceeds. Upon selling the shares at $35.92, the Director now owns 6,814 shares.

Before that, Robins Jason sold 200,000 shares. DraftKings Inc. shares valued at $8,718,375 were divested by the insider at a price of $43.59 per share. As a result of the transaction, Robins Jason now holds 2,668,954 shares, worth roughly $98.46 million.

Needham reiterated its DraftKings Inc. [DKNG] rating to a Buy in a research note published on May 06, 2024; the price target was $60. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in mid April with a ‘”a Buy”‘ rating. Needham also remained covering DKNG and reiterated its “Buy” recommendation on March 27, 2024. Mizuho started covering the stock on March 26, 2024. It rated DKNG as “a Buy”.

Price Performance Review of DKNG

On Friday, DraftKings Inc. [NASDAQ:DKNG] saw its stock fall -1.78% to $36.89. Over the last five days, the stock has gained 5.01%. DraftKings Inc. shares have risen nearly 4.65% since the year began. Nevertheless, the stocks have risen 47.21% over the past one year. While a 52-week high of $49.57 was reached on 03/27/24, a 52-week low of $24.16 was recorded on 01/04/24. SMA at 50 days reached $42.13, while 200 days put it at $37.25. A total of 6.44 million shares were traded, compared to the trading of 10.19 million shares in the previous session.

Levels Of Support And Resistance For DKNG Stock

The 24-hour chart illustrates a support level at 36.53, which if violated will result in even more drops to 36.18. On the upside, there is a resistance level at 37.52. A further resistance level may holdings at 38.16. The Relative Strength Index (RSI) on the 14-day chart is 38.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.92%. Stochastics %K at 24.12% indicates the stock is a holding.

The most recent change occurred on March 25, 2024 when Susquehanna resumed its ‘”a Positive”‘ rating for the stock and retained the price target to $54.

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