DraftKings (DKNG)

May 27, 2021Trade Ideas

Just yesterday, we highlighted an opportunity with Penn National Gaming (PENN).

We noted, “PENN is severely oversold on RSI, MACD, and Williams’ %R. However, we don’t expect that to last much longer, with casinos seeing higher foot traffic, and revenue. At the open, PENN traded at $80.25, and raced to $83.49 on the day.

We still think PENN is a solid long-term opportunity.

Another hot, oversold gambling stock to consider is DraftKings (DKNG). With more states legalizing sports gambling, Helping, analysts appear bullish on the stock, too. Cowen analyst Stephen Glagola upgraded the DKNG stock to an outperform rating with a price target of $70. Guggenheim analyst Curry Baker also initiated coverage with a buy rating and a $75 target.

Recent DKNG weakness may be an opportunity with DKNG.

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