Twitter IncShort
Twitter Possible Short Entry At Historical Level of Resistance
TWTRPossibly a good time for me to start a short position on Twitter by End of Jan, 2023 (or start adding some options starting tomorrow, 10/21/2022).
Truthfully, I believe that this will happen sometime in November, but I allow myself a larger margin of safety.
It's currently up +61.25% from its July 2022 lows.
A 32% pullback on the move from July '22 lows to 56/share (should it hit $56, would be a gain of +$23.48 or, +72.20% ROI), would bring it down to (-$15.97 per share, $40.03 per share, -28.52% per share).
So overall, from here we have a potential long profit of +6.79% ROI, with a potential loss of -28.52% on your investment should you buy at $56 and not sell.
I'm liking a short position the closer we move to $56 as personal choice, not investment advice, just pure chart analysis.
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.
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.