Twitter, Inc. (NYSE:TWTR) Can’t Break the Ceiling
The underlying reasons for the doubts about Twitter stock aren’t tough to figure out. TWTR’s rival, Facebook (NASDAQ:FB), noted in July that its sales growth would be slowing going forward, and the social networking giant’s third-quarter results showed that its warning was accurate.
Meanwhile, newcomer Snap (NYSE:SNAP) — the owner of Snapchat — has yet to prove that the social media market is ready for a third player. Snap’s third-quarter revenue beat analysts’ consensus estimate, but the platform lost two million users during the three-month stretch.
Throw in the market’s prevailing pessimism, and it’s not surprising to see TWTR stock losing ground again.
Granted, there have been plenty of reasons to sell Twiiter stock.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 32.76.
The projected upper bound is: 34.11.
The projected lower bound is: 28.01.
The projected closing price is: 31.06.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 40.8626. This is not an overbought or oversold reading. The last signal was a sell 12 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 44.34. 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 45 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 -185.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 12 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.
Rex Takasugi – TD Profile
TWITTER INC closed down -0.920 at 31.060. Volume was 15% below average (neutral) and Bollinger Bands were 23% narrower than normal.
Open High Low Close Volume___
30.200 31.735 30.170 31.060 3,957,922
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 33.05 30.54 33.99
Volatility: 54 65 70
Volume: 3,444,201 4,730,512 5,442,077
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.
TWITTER INC gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
TWITTER INC is currently 8.6% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of TWTR.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on TWTR.N and have had this outlook for the last 21 periods.
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