TWTR: Is it a good buy right now? Complete trend analysis!
Hello traders and investors! Let’s see how TWTR is doing today, and do a complete trend analysis on it.
First, in the 1h chart, it seems we have a Descending Triangle, and it seems TWTR is losing the support at $ 46.87. This might indicate further drop, especially considering it is doing lower highs/lows, and it is below the 21 ema.
We have some bearish structures, but since TWTR is so close to this support, there’s still time to react, but it must react quickly in order to avoid a sharper pullback.
It is important to mention that in the daily chart the trend is clearly bullish. It has been a while since we are above the 21 ema and doing higher highs/lows. It just happens that it is too stretched right now, thanks to Elon Musk, and the volume is trading at record highs too.
In this case, remember: Pullbacks are opportunities to buy. Any correction to the 21 ema would be great, but we must wait for the confirmation in the 1h chart, by losing the $ 46.87.
To me, TWTR will fill both gaps (yellow squares), meaning, it has a target at $ 64.73, but it’ll be a though ride, with a lots of ups and downs.
In the weekly chart, we see that the situation is not that easy for TWTR. Even with all the volatility, TWTR just did a very technical movement, and it jumped to hit the 61.8% retracement (with an unbelievable precision), and now we see a Shooting Star candlestick pattern.
This is going to be a strong resistance for TWTR, therefore, we must see more bullish structures in the daily chart.
So far, everything is going according to the plan, but we must keep our eyes open. I’ll keep you guys updated on this, so, remember to follow me to not miss any of my daily analyses!
First, in the 1h chart, it seems we have a Descending Triangle, and it seems TWTR is losing the support at $ 46.87. This might indicate further drop, especially considering it is doing lower highs/lows, and it is below the 21 ema.
We have some bearish structures, but since TWTR is so close to this support, there’s still time to react, but it must react quickly in order to avoid a sharper pullback.
It is important to mention that in the daily chart the trend is clearly bullish. It has been a while since we are above the 21 ema and doing higher highs/lows. It just happens that it is too stretched right now, thanks to Elon Musk, and the volume is trading at record highs too.
In this case, remember: Pullbacks are opportunities to buy. Any correction to the 21 ema would be great, but we must wait for the confirmation in the 1h chart, by losing the $ 46.87.
To me, TWTR will fill both gaps (yellow squares), meaning, it has a target at $ 64.73, but it’ll be a though ride, with a lots of ups and downs.
In the weekly chart, we see that the situation is not that easy for TWTR. Even with all the volatility, TWTR just did a very technical movement, and it jumped to hit the 61.8% retracement (with an unbelievable precision), and now we see a Shooting Star candlestick pattern.
This is going to be a strong resistance for TWTR, therefore, we must see more bullish structures in the daily chart.
So far, everything is going according to the plan, but we must keep our eyes open. I’ll keep you guys updated on this, so, remember to follow me to not miss any of my daily analyses!
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