Twitter, Inc. (NYSE:TWTR) daily chart shows a “golden cross

Twitter, Inc. (NYSE:TWTR) daily chart shows a “golden cross

Twitter, Inc. (NYSE:TWTR) daily chart shows a “golden cross

Twitter, Inc. (TWTR) closed the first half of 2019 at $34.90, which became a key input to my proprietary analytics. The only level left over from the first half is its annual risky level at $48.99. The daily chart shows a “golden cross,” and the weekly chart is neutral.

Fundamentally, Twitter is not a value stock, as its P/E ratio is elevated at 61.44 and the company does not offer a dividend, according to Macrotrends. Twitter is a global social media platform through which users communicate with each other. Tweets are limited to 140 characters. President Trump is one of the most important users of the Twittersphere. The social media giant reports earnings on July 26 after three quarters in a row of beating earnings per share (EPS) estimates.

Twitter reported strong earnings on April 23, and the stock gapped higher and responded by setting its 2019 intraday high of $40.92 on April 30. The stock then declined with the market to as low as $34.04 on June 3 and has been stabilizing since then. Twitter shares closed Tuesday, July 9, at $37.65, up 31% year to date and in bull market territory at 43.8% above the Oct. 11 low of $26.19. The stock is also in bear market territory at 21.3% below its high of $47.79 posted on June 15, 2018.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 39.76.

The projected lower bound is: 35.09.

The projected closing price is: 37.42.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

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 87.6713. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 7 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 58.18. 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 sell 44 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 170.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 6 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 5 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed down -0.180 at 37.470. Volume was 26% below average (neutral) and Bollinger Bands were 27% narrower than normal.

Open High Low Close Volume___
37.990 37.990 36.890 37.470 2,175,841

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period     50-period     200-period
Close: 36.10 37.09 33.25
Volatility: 28 40 58
Volume: 2,319,041 2,627,217 3,758,417

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 12.7% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 3 periods.

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