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DKNG consolidating above prior resistance
Watching $DKNG here. It's been hovering around the 22.80-23.00 area after that recent push through the 22.30-22.50 zone, which was a pretty stubborn resistance earlier this month. The daily candle today looks like it's trying to hold above that prior ceiling. I'm keeping an eye to see if it can establish this as new support.
The main risk to this scenario, in my view, is a clear break and close back below 22.30. If that happens, it would suggest the breakout might have been a false one, and we could see it drift back towards the 21.00 level. Just observing price action for now.
1 comments · 1 points
Agreed, that 22.30-22.50 zone was definitely a sticky point. It'll be interesting to see if this consolidation holds as new support or if we get a retest of the breakout level. Volume on this consolidation could provide a clue.