DraftKings Smashes Into Resistance: What's Next?
DraftKings Inc (NASDAQ:DKNG) slammed into resistance Tuesday morning after reversing a months-long downtrend. Bullish sentiment has waned in the online sports betting sector and DraftKings lost 46% of its value before making a bullish break upwards on May 14. Early on Tuesday, it was reported Cathie Wood-led Ark Fintech Innovation ETF (NYSE:ARKF) purchased 130,400 shares of DraftKings for approximately $6.24 million. DraftKings’ stock opened 2.68% higher on Tuesday following the news but retraced slightly amid overall market weakness. The DraftKings Chart: On Monday DraftKings managed to r...
Source: benzinga.com