TWTR: up to $40 or Sideways?
Updated
interesting pattern is shaping up on TWTR daily chart -- this is the 7th "saw tooth" since the lows in March - and keeping within an almost perfect channel.
- TWTR already facing headwinds - for a bull scenario to unfold (hit $40 in wk1 July), TWTR has to breach 2 important resistance levels and make the same move as before - but there's also an important confluence / decision area ahead - marked by the yellow circle.
- in today trading (Wednesday) TWTR was clearly undecided on a direction while other tech stocks performed relatively bullish .
-
- the other possible scenario is that the headwinds prove to be too strong and TWTR goes into sideways - get some consolidation and gather momentum before moving up - maybe until the next quarterly earnings .
the next 2 trading days will possibly provide clues or confirmation on which scenario to unfold.
- TWTR already facing headwinds - for a bull scenario to unfold (hit $40 in wk1 July), TWTR has to breach 2 important resistance levels and make the same move as before - but there's also an important confluence / decision area ahead - marked by the yellow circle.
- in today trading (Wednesday) TWTR was clearly undecided on a direction while other tech stocks performed relatively bullish .
-
- the other possible scenario is that the headwinds prove to be too strong and TWTR goes into sideways - get some consolidation and gather momentum before moving up - maybe until the next quarterly earnings .
the next 2 trading days will possibly provide clues or confirmation on which scenario to unfold.
Trade active
got knocked off track, but it seems at the end TWTR will recover and hit that $40 target today -- should we exit here??
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.