Despite the recent strength that SPX has been showing, TWTR was left behind.
The stock's price is still below resistance and it's in a consolidation mode.
The scenarios, targets and follow up scenarios are shown in the chart
Took an entry on Twitter--cause why not? Corner pocket still in play, stop is tight. Next zone is marked and has better R/R.
Overall View : Bearish on 3 Day but last ride up was impulsive.
As always, not adjusted for time and Education only Peeps...
Very large head and shoulders finishing out the right shoulder(s) now. Attempt to reclaim the yearly pivot zone (Pink) failed providing very bearish price action in chich the pivot was gapped below, and failed a retest. So far TWTR has also been rejected by it's maco supply & demand channel. the Head and shoulders price target is well below the next yearly support...
NYSE: #Twitter | $TWTR has held this support for +440 Days!
Personally, we are SHORTING. This play looks like pure manipulation,
and it's just a matter of time before we BREAK DOWNWARD.
The world's stock markets are OVERBOUGHT, and appear ready
to TUMBLE DOWN to amplify the ugliness of this chart!
... for a .99/contract credit.
Max Profit: $99/contract
Max Loss/Buying Power Effect: Undefined/~$320/contract (on margin)
Break Evens: 27.01/36.99
Notes: Still has some fairly high implied volatility in it post-earnings. Going with a high probability of profit short strangle with strikes wide of the expected move and greater...
Twitter has been setting up a couple pretty strong bear patterns.
There is a nice forming H&S pattern with the right shoulder forming a low slung triangle pattern with the down-leg candles strong the the up-leg for the triangle and also the H&S pattern.
Moving averages has also decided to cross bearish with price action showing below it. The 100 EMA on the week...
We are the seeing the same pattern repeat on twiiter chart, as last time price broke out of rising wedge at then fell to the trendline support , this time also this is happening.
Buy at trendline support.
I'll really appreciate if you would leave a like.
Check previous analysis below
#TWTR #twitter - weekly zoom out
Range 28 - 34
resistance test at mean 31
VOL ATR - SHORT
short term neutral
long term long because jack likes bitcoin
next resistance test up ~ 34
support at 28
will be fun to watch this one