Today DraftKings increased by 4.58%, ended the session at $21.91

Today at a glance: DraftKings rallied 4.58% and ended the session at $21.91.

DraftKings's uptick comes amid disappointing United States macroeconomic data released during the session – United States Pending Home Sales fell short of the 0.5% projections, with new data of -5.2%. United States GDP published yesterday at 12:30 UTC came out at 1.1, falling short of the two projections and continuing its decline from the previous 2.6 figure.

At the same time, United States Core PCE Price Index (MoM) (Mar) came out at 0.3, while a consensus of analysts was expecting 0.3.

Trend analysis indicates that DraftKings Inc. made an initial breakout above its 5 day Simple Moving Average at $21.15, a potential indicator of a newly emerging bullish phase. DraftKings is currently trading around the $21.97 Fibonacci resistance level. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $22.53, thereby suggesting that DraftKings is becoming overvalued. Support/Resistance levels obtained from chart analysis indicate that DraftKings could be slowing down soon; it is getting close to the resistance line and is now at $21.31, only 60 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

With market volatility ebbing, the current technical outlook indicates DraftKings will remain range-bound for the immediate future.

A look at other consumer discretionary stocks also showed bullish price action as Walt Disney gained 2.59%, as it traded at $102.52. Home Depot was up 2.25%.

DraftKings went up today, yet these consumer discretionary stocks did not follow — Amazon lost 3.98% today and closed at $105.45.

The stock has been trending positively for about a month. Having set a significant high of $21.97 7 days ago, the sports betting operator is trading 4.64% lower.