These two gambling stocks are undergoing impressive upside breakouts, according to the charts

  • 📰 CNBC
  • ⏱ Reading Time:
  • 46 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 50%
  • Publisher: 72%

Breaking News: Markets Noticias

Markets,Entertainment,Caesars Entertainment Inc

David Keller breaks down the charts of DraftKings and Flutter.

With former high-flying gambling stocks struggling so far in the fourth quarter, it's tempting to write off the entire group. But a quick review of the charts unveils two online gambling names that have been strong outperformers and feature compelling technical configurations going into December. The S & P 500 is currently sitting about 16% above its August low, and casino operators Caesars Entertainment and MGM Resorts International have given back much of their autumn gains.

pushed above its March high around $225, the stock pulled back to the breakout level and found new support. Earlier this month, a positive earnings beat created an upside gap to a new all-time high above $250. The post-gap performance of Flutter is most impressive, with a "gap and run" pattern where the stock pops higher and then additional buyers create even more upside potential.

has now made a new 12-month relative high, as the strong performance in Q4 has outpaced other gambling stocks as well as the major equity benchmarks. With the S & P 500 and Nasdaq 100 continuing their relentless bullish trends into December, it can be a challenge to identify stocks with the potential to outperform. By focusing on the fundamentals of technical analysis, we can easily identify charts with high percentage setups and strong technical profiles.

Click here for the full disclaimer.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 12. in AR
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

While the Magnificent 7 stocks flounder, this forgotten growth name is breaking outDavid Keller breaks down a cup-and-handle pattern in Visa.
Fuente: CNBC - 🏆 12. / 72 Leer más »

Troubling signs under the hood: Charts point to possible market selloff around cornerDavid Keller breaks down the weak internal breadth he's seeing in the S&P 500.
Fuente: CNBC - 🏆 12. / 72 Leer más »