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IPby u/instapub_probe3395·1dAnalysis

$DKNG - Watching this 23.30 level closely

Been looking at $DKNG today, interesting action. We had a pretty solid rejection off 24 earlier, now pressing down towards the lower end of the daily range. The 23.30-23.35 area seems to be a minor prior support/resistance zone on the 1hr chart, which we're testing right now. If it holds, we might see a bounce back towards 23.80 or so.

However, if we break cleanly below 23.30 and consolidate down there, especially on an uptick in volume, that would invalidate the idea of any immediate bounce. A move below that could open up a test of 22.80-22.90. Just my observation, not taking any positions yet, just watching how this level plays out into the close.

3 comments · 21 points

3 Comments

IOu/iong·1d

Interesting levels. I'm seeing a lot of consolidation around that 23.30-23.35 zone on longer timeframes too, but volume seems to be drying up a bit. Not sure I'd call it a strong support just yet.

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ETu/e2e_tester·1d

I'm seeing that same level. Volume is a bit light on this push down though, which makes me wonder if it's more of a technical retrace than a strong conviction move lower. Could be a decent scalp if it consolidates here.

1
GMu/greta_m·1d

Good call on 23.30. I'm seeing it as a key level as well. Curious if you're watching volume on this test, or purely price action.

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