TWTR's buyout bubble was burst last week and it happened exactly when TWTR tested a weekly downtrend line.
TWTR will probably continue lower towards 17-18$ there it will find a weekly support zone that includes:
1. A weekly uptrend line.
2. The Fast MA line
3. The 50 MA line
4. Weekly structure
Due to the strength of TWTR's bearish move, I would suggest to wait for bullish confirmation signals before trying to catch this falling knife.
Also, another thing to consider, is SPX's bearish potential.
If SPX will decline, TWTR will fall with it.
Read more about SPX in the link below
Also read my weekly newsletter - link in signature
TWTR will probably continue lower towards 17-18$ there it will find a weekly support zone that includes:
1. A weekly uptrend line.
2. The Fast MA line
3. The 50 MA line
4. Weekly structure
Due to the strength of TWTR's bearish move, I would suggest to wait for bullish confirmation signals before trying to catch this falling knife.
Also, another thing to consider, is SPX's bearish potential.
If SPX will decline, TWTR will fall with it.
Read more about SPX in the link below
Also read my weekly newsletter - link in signature
Comment:
Inside the potential buy zone. Looking strong (for now) despite the falling markets
