Twitter, Inc. (NYSE:TWTR) Buy on Dips Below $30

Twitter, Inc. (NYSE:TWTR) Buy on Dips Below $30

Twitter, Inc. (NYSE:TWTR) Buy on Dips Below $30

Twitter Inc. has blocked right-wing conspiracy theorist Alex Jones from tweeting for a week, according to reports Tuesday night.

According to multiple reports, Jones’s personal account was placed in read-only mode for seven days, apparently over a video urging his followers to get their weapons ready. While not a suspension, which would keep him off Twitter entirely, the move does not allow him to post tweets or retweet, like or comment on others’ tweets. Jones has about 889,000 Twitter followers.

A Twitter spokesperson confirmed Jones’s account had been restricted, and that he was required to delete a tweet linking to a video that was in violation of Twitter rules.

The billionaire investor recently admitted that he sold Twitter (NYSE:TWTR) along with many of his other publicly traded investments in a move to cash that’s less about TWTR stock and more about the state of the markets.

“No, I don’t — but not for any particular reason other than I wanted to accumulate as much cash as possible,” Cuban told CNBC’s Fast Money Halftime Report August 13…. “I’ve got a whole lot of cash on the sidelines. There’s just no way where you can say, ‘I just trust everything that’s going on.’ And that concerns me.”

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 36.76.

The projected upper bound is: 38.19.

The projected lower bound is: 28.00.

The projected closing price is: 33.10.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 55.9690. This is not an overbought or oversold reading. The last signal was a buy 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 36.85. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 6 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -10. This is not a topping or bottoming area. The last signal was a buy 8 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed up 0.390 at 33.190. Volume was 28% below average (neutral) and Bollinger Bands were 121% wider than normal.

Open High Low Close Volume___
33.380 33.430 32.520 33.190 4,223,825

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 32.41 40.94 31.01
Volatility: 37 82 68
Volume: 4,328,896 7,083,317 5,498,987

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

TWITTER INC is currently 7.0% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of TWTR.N (mildly bearish). Our trend forecasting oscillators are currently bearish on TWTR.N and have had this outlook for the last 21 periods.

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