Understanding Support Levels For FuboTV (FUBO) Using TA

Some of my friends have questioned why I am using Technical Analysis (TA) during this period.

However, I feel precisely that it is "this kind of time" that investors should embrace TA. 

By knowing the important support levels will give me a better grasp of how I should average down when the macro economy is in such a bad situation, with so much uncertainty, and the stock market is on the decline.

After all, our resources are limited, thus having more knowledge is essential.

Therefore I have requested my friend to provide me another technical analysis for FUBO. 

To give you a better idea of what my friend does, he is a swing trader with a longer term timeframes. 

He basically does not day trade. If the company hits his target price (even earlier than his timeframe), he will sell.

As a result, what he supplied is most likely an entry point with a time limit of a few weeks to a month.

Image taken from SLCDunk Website

As compared to the previous post, he seem to use a different technical analysis style. Due to my persistent barrage of questions, he has also supplemented the chart with explanations that made the entire chart look more "understandable" for the uninitiated like myself.

Technical Analysis For FuboTV (FUBO) as of 4/3/22 SG Morning Time

Even with the explanation and lines, I still have some questions, with his answers in Bold:

Q1 - What is the range of the demand zone? 

Ans: 8.37 to 12.5, bottom most yellow zone 

Q2 - Shorting stopped. Meaning it is an inflection point?

Ans: most LIKELY is a inflection point

Q3 - If it drop further, what is the next entry price?

Ans: 6.4 - 7.2 area. But hard to confirm as have to see FA more. TA unreliable once it drops further.

Conclusion

FUBO's catalysts stated in my 10x Potential Series will probably happened in the 2nd half of 2022.

Therefore, by slowly accumulating now will allow long term investors to make significant gains at the end of the year.

Are you interested in reading this post? Does this benefit you in your investment journey? Do provide feedback/comment in the post/on platform as I am looking for ways to value-add to your investment journey.

Stay tuned for the next write up!