TWTR - support found ?
Updated
Hello Everyone!
Twitter dropped today and might have found support at its 20 sma which is also a Fibonacci level (38.2%), will this level holds ? Is always hard to predict the future, what we can do is to follow the price action and the indicators.
RSI is now showing a divergence with the price...mmmhhh...a round minus 6% in a day might be enough or do we have more to come?
If 20 sma will hold we might see price staying at that level for one or two days and heading higher, towards area 39-40, on the contrary on south direction next level to watch is the 50 sma, any closing daily below the most recent lower high (30.29) has to be considered a bearish signal potentially driving the price lower.
If you like to post a comment pls do that and....may the market be with us !
Twitter dropped today and might have found support at its 20 sma which is also a Fibonacci level (38.2%), will this level holds ? Is always hard to predict the future, what we can do is to follow the price action and the indicators.
RSI is now showing a divergence with the price...mmmhhh...a round minus 6% in a day might be enough or do we have more to come?
If 20 sma will hold we might see price staying at that level for one or two days and heading higher, towards area 39-40, on the contrary on south direction next level to watch is the 50 sma, any closing daily below the most recent lower high (30.29) has to be considered a bearish signal potentially driving the price lower.
If you like to post a comment pls do that and....may the market be with us !
Note
After trading for few days around 20sma, it has lost the 20sma during last three sessions. It's a bearish behaviour...Let's watch out price action.
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