Understanding Support Levels For Digital Turbine Inc (APPS) Using TA

For those who have read my writings, I am a FA investor with a focus on the company's business model, competitors, competitive advantage, management, and financials.

Digital Turbine Inc. (Ticker: APPS) is a company that I have the highest conviction in.

I have a friend who invests using Technical Analysis. Thus, I asked for his assistance in tracking APPS so that I could figure out what entry points I should pay attention to.

After all, APPS is on a downtrend and I want to know the significant support levels which I should average in, especially for someone who do not have any technical analysis knowledge.

Thus, he sent me the following on 1st March 22 and explained he will be using Fibonacci and Elliot Wave to determine the potential entry prices:

Technical Analysis For Digital Turbine Inc (APPS) as of 1/3/22

To simplify his explanation, he stated that Elliot Wave complements and work well with Fibonacci. 38.2 percent and 61.8 percent retracements are usually significant support levels, and 78 percent could be a stretch support level (depending on Macro situations).

Conclusion

In short, he said “the share price is in downwards trend currently, reach support and yellow range, significant support at 61% or 78%”.

He added that 61% retracement seem like a significant support, as the momentum of price is slowing down into consolidation – and will work if my bullish FA view is correct.

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Stay tuned for the next write up!