TWTR to reestablish lowsVery large head and shoulders finishing out the right shoulder(s) now. Attempt to reclaim the yearly pivot zone (Pink) failed providing very bearish price action in chich the pivot was gapped below, and failed a retest. So far TWTR has also been rejected by it's maco supply & demand channel. the Head and shoulders price target is well below the next yearly support zone, and therefore I have chosen that zone as my exit. I expect a fair amount of meandering so I set my expiration date for January 2020, when a new set of yearly pivots is generated. my stop is a daily close above the previous swing high.
Position taken:
Long Put TWTR $18 Strike 01/17/2020 Expy.
Denoted by the Red and Blue circle
More blood to come?I just took 1 simple indicator, and chart...
I've took the comparison of the Chart & RSI of 2014-2015 with the current one 2018-2019
It clearly shows that we still not have the bottom, neither in RSI which has to be lower than the previous one in DEC 2018
More blood to come?
Let me know what you think about this comparison.
NYSE: #Twitter | $TWTR has held this support for +440 Days!NYSE: #Twitter | $TWTR has held this support for +440 Days!
Personally, we are SHORTING. This play looks like pure manipulation,
and it's just a matter of time before we BREAK DOWNWARD.
The world's stock markets are OVERBOUGHT, and appear ready
to TUMBLE DOWN to amplify the ugliness of this chart!
TWTR Testing Support, Potential Bounce!TWTR is testing its support at 27.21 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 31.89 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is testing its support at 2.06% where a corresponding bounce is expected.