interesting pattern is shaping up on TWTR daily chart -- this is the 7th "saw tooth" since the lows in March - and keeping within an almost perfect channel.
- TWTR already facing headwinds - for a bull scenario to unfold (hit $40 in wk1 July), TWTR has to breach 2 important resistance levels and make the same move as before - but there's also an important confluence / decision area ahead - marked by the yellow circle.
- in today trading (Wednesday) TWTR was clearly undecided on a direction while other tech stocks performed relatively bullish .
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- the other possible scenario is that the headwinds prove to be too strong and TWTR goes into sideways - get some consolidation and gather momentum before moving up - maybe until the next quarterly earnings .
the next 2 trading days will possibly provide clues or confirmation on which scenario to unfold.
- TWTR already facing headwinds - for a bull scenario to unfold (hit $40 in wk1 July), TWTR has to breach 2 important resistance levels and make the same move as before - but there's also an important confluence / decision area ahead - marked by the yellow circle.
- in today trading (Wednesday) TWTR was clearly undecided on a direction while other tech stocks performed relatively bullish .
-
- the other possible scenario is that the headwinds prove to be too strong and TWTR goes into sideways - get some consolidation and gather momentum before moving up - maybe until the next quarterly earnings .
the next 2 trading days will possibly provide clues or confirmation on which scenario to unfold.
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got knocked off track, but it seems at the end TWTR will recover and hit that $40 target today -- should we exit here??
