DraftKings Stock Forecast - Daily Balance Of Power
| DKNG Stock | USD 41.70 0.78 1.84% |
DraftKings Stock Forecast is based on your current time horizon. We recommend always using this module together with an analysis of DraftKings' historical fundamentals, such as revenue growth or operating cash flow patterns.
DraftKings |
| Previous Daily Balance Of Power | Daily Balance Of Power | Trend |
| (0.13) | (0.49) |
| Check DraftKings Volatility | Backtest DraftKings | Trend Details |
DraftKings Trading Date Momentum
| On November 30 2023 DraftKings was traded for 38.24 at the closing time. The top price for the day was 38.60 and the lowest listed price was 37.76 . The trading volume for the day was 10.4 M. The trading history from November 30, 2023 was a factor to the next trading day price decrease. The overall trading delta against the next closing price was 0.08% . The overall trading delta against the current closing price is 0.47% . |
Balance of Power indicator was created by Igor Livshin to predict asset short term price movements or warning signals. If Balance of Power indicator is trended towards the high of its range it will signify that the bulls are in control. On the other hand when the BOP indicator is moving towards the lows of its range it signifies that the bears are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.
| Compare DraftKings to competition |
Other Forecasting Options for DraftKings
For every potential investor in DraftKings, whether a beginner or expert, DraftKings' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. DraftKings Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in DraftKings. Basic forecasting techniques help filter out the noise by identifying DraftKings' price trends.DraftKings Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with DraftKings stock to make a market-neutral strategy. Peer analysis of DraftKings could also be used in its relative valuation, which is a method of valuing DraftKings by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
DraftKings Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of DraftKings' price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of DraftKings' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
DraftKings Market Strength Events
Market strength indicators help investors to evaluate how DraftKings stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading DraftKings shares will generate the highest return on investment. By undertsting and applying DraftKings stock market strength indicators, traders can identify DraftKings entry and exit signals to maximize returns.
| Accumulation Distribution | 202279.0 | |||
| Daily Balance Of Power | (0.48) | |||
| Rate Of Daily Change | 0.98 | |||
| Day Median Price | 42.47 | |||
| Day Typical Price | 42.21 | |||
| Price Action Indicator | (1.15) | |||
| Period Momentum Indicator | (0.78) |
DraftKings Risk Indicators
The analysis of DraftKings' basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in DraftKings' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting draftkings stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 1.81 | |||
| Semi Deviation | 1.98 | |||
| Standard Deviation | 2.42 | |||
| Variance | 5.87 | |||
| Downside Variance | 5.32 | |||
| Semi Variance | 3.94 | |||
| Expected Short fall | (1.84) |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Currently Active Assets on Macroaxis
When determining whether DraftKings is a strong investment it is important to analyze DraftKings' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact DraftKings' future performance. For an informed investment choice regarding DraftKings Stock, refer to the following important reports:Check out Historical Fundamental Analysis of DraftKings to cross-verify your projections. For more detail on how to invest in DraftKings Stock please use our How to Invest in DraftKings guide.You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Is Hotels, Restaurants & Leisure space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of DraftKings. If investors know DraftKings will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about DraftKings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.87) | Revenue Per Share 9.655 | Quarterly Revenue Growth 0.387 | Return On Assets (0.07) | Return On Equity (0.44) |
The market value of DraftKings is measured differently than its book value, which is the value of DraftKings that is recorded on the company's balance sheet. Investors also form their own opinion of DraftKings' value that differs from its market value or its book value, called intrinsic value, which is DraftKings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because DraftKings' market value can be influenced by many factors that don't directly affect DraftKings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between DraftKings' value and its price as these two are different measures arrived at by different means. Investors typically determine if DraftKings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, DraftKings' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.