TWTR is trading very low on pre-market. The main catalyst for the drop is probably the banning of Trump. Price is now below the 14,21, and 50 emas and getting close to the trendline. MACD curled down, -DI is crossing over +DI and ADX is curling down, showing that the current trend is losing steam.
TRADING STRATEGY Long: I am a buyer on the trendline (if it holds) with a stop loss just below it. I would be looking to sell when/if the price reacts and moves up to the 50-ema. That would be a quick 7.3% at the time of this writing. I may hold and sell when/if it gets to the 21-ema depending on what happens on the 50-ema. This would be about 12.7% at the time of this writing.
Short: You can also short and close your trade when/if price meets the trendline, or you can place a trailing stop. If you short your stop loss should be just above the 14-ema.
Safe trades!
Note: If prices start moving up on opening none of these will apply.
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***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
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Indicators not looking good but I bought here at the trendline with a stop below the wick of the current candle. Looking to sell if it gets to the 50-ema. Might be a long shot but we will see what happens:
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Going in our favor so far:
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If it breaks current resistance the next stop is the 50-ema, at which point I will most likely close my position:
Trade closed manually
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Sold at current resistance:
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I sold my shares a bit prematurely. Good job for those who held! Price is pretty close top the 50-ema. If you bought on the trendline support you are up about 7% now.
Im out of TWTR and FB. Thanks for the memories........ Both of you screwed the pooch this time.......
Safe_Trades
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@wildcard97, weird times. Social media companies have a fundamental role on how society operates. Banning the President has its repercussions on the stock regardless of whether or not it was merited. I think twitter should be fine in the long run though. Safe trades!