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Recent Insider Activity Could Benefit DraftKings Inc. (DKNG)

In a filing, DraftKings Inc. revealed its Director SLOAN HARRY unloaded Company’s shares for reported $9.54 million on Jun 14 ’24. In the deal valued at $38.15 per share,250,000 shares were sold. As a result of this transaction, SLOAN HARRY now holds 250,000 shares worth roughly $10.5 million.

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Then, Moore Jocelyn sold 1,403 shares, generating $51,434 in total proceeds. Upon selling the shares at $36.66, the Director now owns 5,411 shares.

Before that, Moore Jocelyn sold 1,450 shares. DraftKings Inc. shares valued at $52,084 were divested by the Director at a price of $35.92 per share. As a result of the transaction, Moore Jocelyn now holds 6,814 shares, worth roughly $0.29 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 -2.35% to $41.99. Over the last five days, the stock has gained 7.72%. DraftKings Inc. shares have risen nearly 19.12% since the year began. Nevertheless, the stocks have risen 68.30% over the past one year. While a 52-week high of $49.57 was reached on 03/27/24, a 52-week low of $24.33 was recorded on 01/04/24. SMA at 50 days reached $41.22, while 200 days put it at $37.77. A total of 16.38 million shares were traded, compared to the trading of 11.6 million shares in the previous session.

Levels Of Support And Resistance For DKNG Stock

The 24-hour chart illustrates a support level at 41.09, which if violated will result in even more drops to 40.20. On the upside, there is a resistance level at 42.94. A further resistance level may holdings at 43.90. The Relative Strength Index (RSI) on the 14-day chart is 57.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.79, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 26.16%. Stochastics %K at 85.28% indicates the stock is a selling.

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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