DraftKings Inc (NASDAQ:DKNG) has moved higher from a falling wedge continuation pattern
Dwight Galusha | August 17, 2021 | SmallCapPower: DraftKings Inc (NASDAQ:DKNG) is pushing up against the underside of a major horizontal resistance line after moving higher from a falling wedge continuation pattern. Watch for a breakout as it would suggest/signal a continuation of the uptrend.
DraftKings is a digital sports entertainment and gaming company and is the only U.S.-based vertically integrated sports betting operator.
The company is also a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries.
On August 9, 2021, DraftKings announced a $1.56 billion all-stock deal to buy Golden Nugget Online Gaming (NASDAQ:GNOG) and its database of about five million customers.
In addition, DraftKings owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.