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April 04, 2023
Yesterday at a glance: the sports betting operator has recovered almost all of its session losses after dipping down to $18.86 yesterday.
United States JOLTs Job Openings (Feb) is next today at 14:00 UTC.
Meanwhile, United States ISM Manufacturing PMI (Mar) released yesterday at 14:00 UTC with a figure of 46.3, while the previous figure was 47.7. United States ISM Manufacturing Employment (Mar) came out at 46.9, while a consensus of analysts was expecting 50. United States ISM Manufacturing Prices (Mar) came out at 49.2.
DraftKings Inc.'s upper Bollinger Band® is at $19.63 which indicates a further downward move may follow. Despite this, DraftKings could begin to recover as it approaches significant support, now 22 cents away from $18.82. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts DraftKings to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the fantasy sports contest and sports betting operator is expected to attract significant bearish sentiment in the coming days.
DraftKings was not the only decliner in the consumer discretionary sector; Tesla lost 6.12% yesterday and closed at $194.77. Alibaba dips 3.71% yesterday to close at $102.18.
On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Lowe's gained 2%, as it traded at $204.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with -1.8 million. It previously stood at -7.49 million; data will be released tomorrow at 14:30 UTC.
Furthermore, United States ADP Nonfarm Employment Change (Mar) is scheduled for tomorrow at 12:15 UTC. United States JOLTs Job Openings (Feb) is expected today at 14:00 UTC.
The past 3 months have been positive for the fantasy sports contest and sports betting operator as it added 70.27% compared to its 3-month low of $10.27.
