$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.
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.