TWTR: Most important key points to keep in mind!
• It seems TWTR is inside an Ascending Triangle chart pattern, between the purple trend line which connects the previous bottoms since July 12, and the black line at $44.57 which worked as support/resistance multiple times in the past;
• To whatever side TWTR breaks, it’ll probably do a strong movement in sequence;
• By doing an upwards breakout, the target would be the next resistance at $51.19. By losing the trend line, the next support at $38.07 would be the next stop;
• What could frustrate this pattern? Usually, triangles are frustrated when we see sideways breakout, as this ruins any future momentum. Therefore, it is important to see a reaction on TWTR as soon as possible.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
• To whatever side TWTR breaks, it’ll probably do a strong movement in sequence;
• By doing an upwards breakout, the target would be the next resistance at $51.19. By losing the trend line, the next support at $38.07 would be the next stop;
• What could frustrate this pattern? Usually, triangles are frustrated when we see sideways breakout, as this ruins any future momentum. Therefore, it is important to see a reaction on TWTR as soon as possible.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
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