DraftKings Inc ( DKNG ) shares are under pressure on Thursday, extending its recent slide as the stock continues to struggle below key technical levels. Here’s what you should know.

DraftKings ( DKNG ) shares are under pressure. Why is DKNG stock retreating?

The stock is continuing a multi‑week slide. Shares remain firmly in a downtrend, sitting well below key moving averages and extending a broader decline of 44% over the past 12 months, leaving the stock much closer to its 52‑week low than its high.

What the Chart Is Signaling

The technical setup remains decisively bearish. DKNG is trading 14.3% below its 20‑day SMA and 28.8% below its 100‑day SMA, keeping both the short‑ and intermediate‑term trend pointed lower. Price also remains below the 50‑day moving average near $26.41 and far beneath the 200‑day moving average around $35.54, reinforcing the long‑term downtrend.

Momentum is stretched but not yet reversing. RSI sits at 27.99, an oversold reading that often signals "selling exhaustion," though it does not guarantee a bounce. MACD remains negative at –0.7496 and below its signal line at –0.5998, showing that bearish momentum is still in control despite the oversold RSI.

Volume trends continue to lean toward the downside, with heavier activity on selloffs and lighter volume on rebound attempts, a pattern consistent with distribution rather than accumulation.

Key Levels Traders Are Watching Next

The chart shows key resistance at $24.50, which is the next major level DraftKings ( DKNG ) would need to reclaim to signal any shift in momentum. A close above that level, ideally on rising volume, would be the first sign that buyers are stepping back in.

On the downside, $21.00 remains the critical support level. A breakdown below $21 would likely accelerate the current downtrend and expose lower pivot levels.

For now, DraftKings ( DKNG ) remains oversold, below every major moving average, and pinned against key support — a setup that keeps the stock under pressure until the chart proves otherwise.

DKNG Price Action: DraftKings ( DKNG ) shares were down 0.84% at $21.25 at the time of publication on Thursday. The stock is trading near its 52-week low of $21.01, according to Benzinga Pro.

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