DraftKings Stock About to Break Out? Technically Speaking by Dwight Galusha

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.

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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

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