TWTR due for correction!!!
TWTR nearly approached oversold territory. After the news of Elon Musk considering purchasing more shares of the company following such negative news of a potential hostile take over by his most recent offer. This all caused the company to implement a "poison pill" to prevent a hostile takeover. Which is brilliant. This however will not be enough to keep the ticker running hard on tax day. Tax day historically is a red day. It will take a major catalyst to cause TWTR to continue this run it has. I evaluated the day chart in this example looking over a few puts I played last week for a swing.
All of the indicators such as the MAC D,
The studies used in this study are Chandelier Exit Strategy, Moving Average Convergence Divergence, Moving Averages(2) [Green 200, Blue 50], and the Relative Strength Index with SMA.
My projection is TWTR open on the down trend in the morning if this chart pattern continues. If the 50 day average crosses over the 200 day moving average TWTR will be bullish again. I am bearish because I believe twitter will sink back to the 30's soon.
On the flip side, TWTR can form a cup and handle chart pattern which can only happen after a correction happens, and the ticker go back to the $50's, yet I believe the momentum will die down on day trades on TWTR.
**This is not financial advise but only a personal observation for my play.
All of the indicators such as the MAC D,
The studies used in this study are Chandelier Exit Strategy, Moving Average Convergence Divergence, Moving Averages(2) [Green 200, Blue 50], and the Relative Strength Index with SMA.
My projection is TWTR open on the down trend in the morning if this chart pattern continues. If the 50 day average crosses over the 200 day moving average TWTR will be bullish again. I am bearish because I believe twitter will sink back to the 30's soon.
On the flip side, TWTR can form a cup and handle chart pattern which can only happen after a correction happens, and the ticker go back to the $50's, yet I believe the momentum will die down on day trades on TWTR.
**This is not financial advise but only a personal observation for my play.
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