Taking a look at DraftKings at it is approaching a key area of resistance on the weekly chart. The stock closed yesterday's session with its share price at $38.59 a share, we can see the upper trendline of the channel has prevented the price from moving higher on two occasions already. Therefore, investors will be monitoring closely as a break higher on this occasion may spark a new rally. The resistance in focus is now the level of $39.09. A break above it would then require a move above $40.02 to strengthen the case for a possible rally higher. This year’s high rests at $49.55, which is approximately 29% from the current price level. On the other hand, another rejection by the resistance would likely send the price lower due to caution from investors, especially with elections now only 8 weeks away. In this scenario, the first level of support the attention could shift towards would be the level of $33.29. A break and close below here would increase the possibility of a further decline back towards the lower trendline of the channel ($25-$26). Interestingly, the technical indicators are looking more optimistic leading up to this resistance test compared to the previous two. The MACD has edged tightly to its signal line with a possibility of a crossover. Additionally, the RSI is rising as it's no longer bearish and reads 52.