IPO investors have long felt the pain of this stock. The hype surrounding this stock was real but the bulls quickly lost control. 7 years later and Twitter still has not rewarded those initial investors, that will change soon and here is my case.
We see something that resembles an ADAM AND EVE BOTTOM which formed between 2016 to mid 2017. The volume profile shows those levels had the largest amount of trading action.
Following a failed breakout in June 2019 and Sept 2019 Twitter too felt the pain from the March 2020 COVID-Panic. The price found support precisely at the top of the ADAM AND EVE. The bears couldn't drop the price any lower as the bulls came stampeding back. The telling part of this move was that the drop was not able to penetrate the section of the volume profile with the most action. This gives me confirmation that the bottom is in. The velocity of this bounce looks serious and a large move in imminent.
In the early twitter price action we see a large gap that is almost hidden. This gap coincides almost perfectly with the 1.618 fib extension. The volume profile shows the resistance is getting weaker the higher the price goes.
Twitter experienced a massive hack with some of the biggest accounts getting hacked including a former President!. The price neve flinched.
Not only is my SHORT TERM TARGET $64, but my long term outlook on this stock is ultra promising. I think a lot of big tech will see some serious stumbles and Twitter is in shape to start a bullish market cycle. Where will the fleeing money of AAPL go?
We will be hearing a great deal about Twitter in the coming days as Jack Dorsey being pressured to testify. While you would think this would have a negative effect on the price, I believe the chart is looking for any excuse to break higher to the upside. We just saw a miss on earnings but the price went up because "analysts" liked the growth in users.
When a chart is ready to move, even something seemingly negative can give the spark needed to take it to an inevitable direction. The "analysts" will feed the public a narrative of why it happened but as the influential investor Bernard Baruch said "Show me the chart and I will tell you the news"
If this analysis was interesting please give me a like an a follow. Also, please look at the related links for the similarities of the early Facebook breakout with where twitter currently sits.
Regards
We see something that resembles an ADAM AND EVE BOTTOM which formed between 2016 to mid 2017. The volume profile shows those levels had the largest amount of trading action.
Following a failed breakout in June 2019 and Sept 2019 Twitter too felt the pain from the March 2020 COVID-Panic. The price found support precisely at the top of the ADAM AND EVE. The bears couldn't drop the price any lower as the bulls came stampeding back. The telling part of this move was that the drop was not able to penetrate the section of the volume profile with the most action. This gives me confirmation that the bottom is in. The velocity of this bounce looks serious and a large move in imminent.
In the early twitter price action we see a large gap that is almost hidden. This gap coincides almost perfectly with the 1.618 fib extension. The volume profile shows the resistance is getting weaker the higher the price goes.
Twitter experienced a massive hack with some of the biggest accounts getting hacked including a former President!. The price neve flinched.
Not only is my SHORT TERM TARGET $64, but my long term outlook on this stock is ultra promising. I think a lot of big tech will see some serious stumbles and Twitter is in shape to start a bullish market cycle. Where will the fleeing money of AAPL go?
We will be hearing a great deal about Twitter in the coming days as Jack Dorsey being pressured to testify. While you would think this would have a negative effect on the price, I believe the chart is looking for any excuse to break higher to the upside. We just saw a miss on earnings but the price went up because "analysts" liked the growth in users.
When a chart is ready to move, even something seemingly negative can give the spark needed to take it to an inevitable direction. The "analysts" will feed the public a narrative of why it happened but as the influential investor Bernard Baruch said "Show me the chart and I will tell you the news"
If this analysis was interesting please give me a like an a follow. Also, please look at the related links for the similarities of the early Facebook breakout with where twitter currently sits.
Regards
Trade closed: target reached
