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Digital Sports Betting DraftKings Stock Sees RS Rating Climb To 74

In a welcome move, DraftKings (DKNG) stock saw its Relative Strength Rating improve from 66 to 74 on Wednesday.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This exclusive rating from Investor’s Business Daily measures price action with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the last 52 weeks stacks up against all the other stocks in our database.

History reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves. See if DraftKings Inc can continue to rebound and clear that threshold.


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Is DraftKings Stock A Buy?

Since hitting a 52-week high of 74.38 on Mar. 22, DraftKings stock has pulled back and etching the right side of a consolidation, meaning it’s now out of a proper buy range. But this online sports betting stock is worth putting on your watch list. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.

Game Changing Stock

The digital sports betting platform saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 57%. Revenue rose from 253% to 320%. And if you follow Cathie Wood’s ARK Invest ETFs, DraftKings stock has a place in their portfolios.

DraftKings stock earns the No. 16 rank among its peers in the Leisure-Gaming/Equipment industry group. Golden Entertainment (GDEN) and Boyd Gaming (BYD) are also among the group’s highest-rated stocks.

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