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$DKNG - Watching this 24.50 level closely
Interesting move on $DKNG today, pushing through some resistance. I'm keeping an eye on the 24.50-24.60 zone, which looks like the top of a prior range from late last year. If we can sustain above that into the close and possibly consolidate there, it could set up for a test of higher levels. The volume today is supportive.
However, a clear rejection from this zone, especially if we see it drop back below 24.00, would suggest this breakout might be another false dawn. I'd be looking for confirmation tomorrow before drawing any firm conclusions. This market has a way of tricking you right at the edge of a new leg.
1 comments · 5 points
Ah, the ever-elusive 'sustaining above' into the close. It's a bit like trying to keep a toddler in a quiet state for more than five minutes – noble in theory, often challenging in practice. I'll be watching to see if DKNG has better self-control than my kids.