DraftKings Inc (DKNG): The price is following the channel patte...

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John-Knee

Re: butoft post# 6899

Thursday, 10/28/2021 7:49:46 AM

Thursday, October 28, 2021 7:49:46 AM

The price is following the channel pattern with the bottom being ~47.99 and the top being ~50.64 (see middle chart). The volume is not high on a down day, nor is it above the daily average. Thus, I am not too concerned at the moment. I do see a positive divergence happening on the 4 hour chart on the MACD (long white arrow) against the price action. Despite it being a lagging indicator, it can give a glimpse of what price action may do soon. No long buy order for me until the price crosses and closes above the 200 period moving average on the 4 hour chart. I am still holding my small share allotment, just in case.

I use both Fundamental and Technical Analysis.
Opinions posted by me are just that, my opinion.
Buy/sell any type of financial security is the sole
decision of the individual. Make your own sound
judgement or consult a professional licensed
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