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DKNG Stock Sees Decline of Approximately -0.82% in Last Five Days

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. DraftKings Inc. shares valued at $25,972,124 were sold by Liberman Paul on Jun 25 ’24. At $38.83 per share, Liberman Paul sold 668,890 shares. The insider’s holdings dropped to 205,962 shares worth approximately $7.69 million following the completion of this transaction.

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Also, SLOAN HARRY sold 250,000 shares, netting a total of over 9,537,500 in proceeds. Following the sale of shares at $38.15 each, the insider now holds 250,000 shares.

Before that, Moore Jocelyn had sold 1,403 shares from its account. In a trade valued at $51,434, the Director traded DraftKings Inc. shares for $36.66 each. Upon closing the transaction, the insider’s holdings decreased to 1,403 shares, worth approximately $0.2 million.

As published in a research note from Oppenheimer on July 01, 2024, DraftKings Inc. [DKNG] has been retained to an Outperform and the price target has been revised to $58. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in early May. As of April 16, 2024, Goldman has initiated its “Buy” rating for DKNG. Earlier on March 27, 2024, Needham resumed its rating. Their recommendation was “a Buy” for DKNG stock.

Analyzing DKNG Stock Performance

During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, DraftKings Inc. shares have jumped approximately 5.99%. Shares of the company reached a 52-week high of $49.57 on 03/27/24 and a 52-week low of $31.98 on 01/04/24. A 50-day SMA is recorded $40.41, while a 200-day SMA reached $38.04. Nevertheless, trading volume fell to 4.49 million shares from 7.65 million shares the previous day.

Support And Resistance Levels for DraftKings Inc. (DKNG)

According to the 24-hour chart, there is a support level at 36.93, which, if violated, would cause prices to drop to 36.43. In the upper region, resistance lies at 37.92. The next price resistance is at 38.41. RSI (Relative Strength Index) is 42.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.11, which suggests the price will decrease in the coming days. Percent R is at 87.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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