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Jul 10, 2023

Trader Bot's Strategy Pays Off: DKNG Secures +5.15% Return Last Week

Among these AI-powered solutions is the "Swing trader: Deep Trend Analysis (TA)" platform, which recently showcased its capabilities by achieving a remarkable 5.15% gain while trading DKNG over the previous week. In this article, we will analyze the earning results of DKNG and delve into the prospects for future growth, taking into consideration the historical performance and market capitalization.

Impressive Gain and Bullish Momentum:

The AI trading bots accessible through the "Swing trader: Deep Trend Analysis (TA)" platform have demonstrated their effectiveness by generating a notable 5.15% gain while trading DKNG. This performance is a testament to the accuracy and efficiency of these automated systems in capturing profitable trading opportunities. Moreover, DKNG's stock price has been moving higher for three consecutive days, which is generally considered a bullish sign in technical analysis. Investors should keep a close watch on this stock as it shows potential for further growth.

Historical Analysis Supports Growth Potential:

To evaluate the likelihood of DKNG continuing its upward trend, historical data provides valuable insights. When DKNG has experienced a three-day advance in the past, it has seen further price increases within the following month in 179 out of 216 cases, resulting in a success rate of approximately 83%. This statistical analysis suggests a high probability of continued upward movement, making DKNG an intriguing prospect for investors seeking long-term growth.

Earnings Report and Market Capitalization:

The latest earnings report for DKNG, released on May 4th, revealed earnings per share of -50 cents, surpassing the estimated figure of -85 cents. This positive surprise indicates that DKNG performed better than expected, potentially instilling confidence in investors and analysts. Furthermore, with 10.16 million shares outstanding, DKNG currently holds a market capitalization of approximately 12.31 billion dollars, reflecting the company's overall value in the market.

Summary:

AI trading bots, exemplified by the "Swing trader: Deep Trend Analysis (TA)" platform, have demonstrated their efficacy by achieving a significant 5.15% gain while trading DKNG. Coupled with DKNG's recent bullish momentum and the historical analysis that points to a high probability of continued upward movement, the stock presents an attractive opportunity for investors. Additionally, the positive earnings surprise and substantial market capitalization further contribute to DKNG's appeal.

Related Ticker: DKNG

DKNG's Stochastic Oscillator sits in oversold zone for 3 days

The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DKNG advanced for three days, in of 304 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The 10-day RSI Indicator for DKNG moved out of overbought territory on September 27, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 47 similar instances where the indicator moved out of overbought territory. In of the 47 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on October 23, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on DKNG as a result. In of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for DKNG turned negative on October 01, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .

DKNG moved below its 50-day moving average on October 23, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for DKNG crossed bearishly below the 50-day moving average on October 28, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where DKNG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for DKNG entered a downward trend on October 28, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. DKNG’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock slightly better than average.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (25.445) is normal, around the industry mean (12.515). P/E Ratio (0.000) is within average values for comparable stocks, (64.997). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (1.549). Dividend Yield (0.000) settles around the average of (0.043) among similar stocks. P/S Ratio (5.672) is also within normal values, averaging (3.531).

Notable companies

The most notable companies in this group are Las Vegas Sands Corp (null:LVS), MGM Resorts International (null:MGM), Wynn Resorts Limited (null:WYNN), Melco Resorts & Entertainment Limited (null:MLCO).

Industry description

Casinos/Gaming includes companies that operate casinos, gaming services, horse racing and harness racing facilities. Think Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts, Ltd. In periods of strong economic growth, consumers tend to spend on discretionary/leisure activities like gambling or games; but consumption is likely to slow down when there’s economic sluggishness.

Market Cap

The average market capitalization across the Casinos/Gaming Industry is 5.82B. The market cap for tickers in the group ranges from 152.98K to 38.96B. LVS holds the highest valuation in this group at 38.96B. The lowest valued company is ROBK at 152.98K.

High and low price notable news

The average weekly price growth across all stocks in the Casinos/Gaming Industry was 2%. For the same Industry, the average monthly price growth was 10%, and the average quarterly price growth was -2%. CNTY experienced the highest price growth at 15%, while GMBL experienced the biggest fall at -21%.

Volume

The average weekly volume growth across all stocks in the Casinos/Gaming Industry was -5%. For the same stocks of the Industry, the average monthly volume growth was -48% and the average quarterly volume growth was -41%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 49
P/E Growth Rating: 64
Price Growth Rating: 54
SMR Rating: 70
Profit Risk Rating: 82
Seasonality Score: 28 (-100 ... +100)
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General Information

a digital sports entertainment and gaming company, which provides online and retail sports wagering offerings, online daily fantasy contests and online casino games

Industry CasinosGaming

Profile
Fundamentals
Details
Industry
N/A
Address
222 Berkeley Street
Phone
+1 617 986-6744
Employees
4400
Web
https://www.draftkings.com
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