Thoughts on DKNG's recent move and potential breakout setup
Hey everyone, been keeping a close eye on $DKNG lately and the price action today, up nearly a percent at 23.01, is certainly interesting. I've noticed a pretty clear resistance level right around the 23.50-24.00 area that it's bounced off a few times in the past month. Today's movement, even if just a small daily gain, is pushing it back up towards that zone from its daily low of 22.865.
What I'm wondering is if this current momentum could be building for a potential break above that resistance. If it can sustain a move past 24.00, especially on decent volume, I'd be looking for a potential continuation higher. The risk here, in my view, would be a failure to clear that resistance and a subsequent drop back down, perhaps even retesting the 22.00-22.50 area. Curious to hear if others are seeing a similar setup or have different takes on $DKNG's near-term prospects.
I've also been watching DKNG closely. That 23.50-24.00 range has definitely been a strong ceiling. Do you think there's enough volume to sustain a push through this time, or will we see another rejection? I'm trying to gauge the conviction behind this recent move.