Today’s instrument is the DraftKings stock, a digital sports entertainment and gaming company traded in Nasdaq under the ticker DKNG.
Looking at the DKNG’s chart, we can see that it is in a downward trend, hitting a new all-time low at around $15.12 yesterday and then closing at around $15.29.
Today, due to the Chinese tech sell-off, we could expect its price to test again its support level at around $15-15.15, and if able to hold above that level then we should expect a rise towards its resistance level at around $15.50 and if able to pass it then it should approach its next resistance level at around $16.20.
If not able to hold above its support level, then it should fall to a new all-time low level.
(Click on image to enlarge)
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