$TWTR bounce from retest? (4/5)
Updated
Conviction: 4/5
could have another leg down to complete bullish RSI-W divergence
General Thesis
Growth
Value
Fundamentals & Balance Sheet
Potential Risks
could have another leg down to complete bullish RSI-W divergence
General Thesis
- breakout and retest from downward resistance line (2014)
- Weekly RSI at oversold levels - ALTHOUGH could have another leg down to complete bullish divergence
- 200WMA as support?
- c-leg down at 100% of a leg down
Growth
- Margins are high, although came down a bit since 2019
- revenue growth trending up, about average
Value
- P/FCF expensive, coming down in 2021
- P/S about average
Fundamentals & Balance Sheet
- low debt to asset (<1)
- good quick ratio (4)
Potential Risks
- expensive P/FCF
- data does not contain last recession
- another leg down for bullish divergence?
- can continue to hug downtrend
Comment
both RSI-D and RSI-W showing bullish divergence!Comment
Closed position, weekly close below support.Will wait for entry at lower support.
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