RedKTrader

TWTR: Quality breakout ?

Long
NYSE:TWTR   Twitter Inc
Today's breakout was strong and "unchallenged" - comes with a backdrop of strong demand (v.viewer) and bullish sentiment (green area in UTO)

it's a clear comparison versus the 2 prior breakout attempts (yellow circles) where both attempts received headwind from sellers (long wicks in both bars) which didn't happen this time. fingers crossed for the next 2 sessions :)

this is a good sign for long positions - and we can expect - after a positive confirmation that we need to see - a strong run to follow to the upside.

pls stay safe and good luck.

Comments

Interesting, I am always trying to learn something. So because the breakout candle had average volume it is a sign that there was not much fight? That makes sense. Thank you
Reply
RedKTrader ceesounds
@ceesounds, thanks for commenting - it's because the breakout candle had *double* the recent average volume *and* had a very small to almost no wick at the top that we think there was not much fight from sellers - now the confirmation we need to see is that TWTR can defend the breakout level $41.3 and stay above it - even with yesterday's decline. we'll see :)
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