Twitter Shares are UndervaluedHello traders and investors!
PrimeXBT would like to direct your attention to a technical and fundamental analysis overview of TWTR.
Fundamental Analysis / News:
The blockchain-analytics company Messari has compiled a rating of people and trends that have the greatest impact on the future of the blockchain industry. The first two places on the list were taken by Changpeng Zhao, who is the founder and CEO of Binance, and Twitter head Jack Dorsey .
Dorsey recently decided to create a decentralized standard for social networks, and Twitter will among the first companies in the world to implement decentralized standards on a large scale.
Their new standard will help them to overcome a plethora of pressing problems and to expand the reach and capability of their social network.
Twitter grew its monetizable daily active users (MDAU) to 145 million in the third quarter. That's a 17% increase, the company's biggest user growth in two years. Revenue also increased in Q3, jumping 9% to $824 million .
The stock price might be struggling because while Twitter is growing, it does not always have a positive reputation. That's partly due to the political divide in the U.S. and partially due to how the company polices the content on its platform — something that might change under their new decentralized standards.
Technical Analysis:
Recently, Twitter Inc has broken through a very wide and rising long-term trend line. This breakthrough was accompanied by a gap that is in an area of the chart where a security's price either rises or falls from the previous day’s close, with no trading occurring in between. Gaps like these tend to get filled.
Overall, it is expected that in the short-term TWTR's market price will gradually rise until it reaches the middle line of the descending channel.
Support zone: $27.30 - 26.30
Resistance zone: $33.70 - 34.75
Market Cap: 24.727B
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