Twitter, Inc. (NYSE:TWTR) hitting 52-week highs

Twitter, Inc. (NYSE:TWTR) hitting 52-week highs

Twitter, Inc. (NYSE:TWTR) hitting 52-week highs

It may seem odd to see Twitter hitting 52-week highs on Friday. Social media is generally under fire, and Twitter is seen as a platform that’s been easily exploited in the past by bots and other nefarious accounts to influence elections and general user behavior. There are also data and privacy concerns; even the CEO had his account hacked late last month.

Thankfully Twitter’s financial actions are speaking louder than its character count-restricted words. Twitter has consistently trounced Wall Street profit targets over the past year. Revenue rose 18% in its latest quarter this summer, up 20% on a constant currency basis. There were once concerns about stagnant account growth and waning interest on its home turf, but U.S. revenue soared 24% for the second quarter. Twitter also claims to be better about tackling “spammy” accounts, realizing that it will be under the microscope as we head into the 2020 election.

Technical Indicators

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 39.05.

The projected upper bound is: 48.42.

The projected lower bound is: 42.82.

The projected closing price is: 45.62.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 3 black candles for a net of 3 white candles. During the past 50 bars, there have been 29 white candles and 20 black candles for a net of 9 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 93.2153. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 10 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 67.32. 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 23 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 224.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 9 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 2 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed up 0.120 at 45.420. Volume was 16% below average (neutral) and Bollinger Bands were 4% wider than normal.

Open     High      Low     Close     Volume___
45.210 45.680 44.560 45.420 2,270,823
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 42.74 40.01 35.34
Volatility: 40 44 54
Volume: 2,626,493 2,776,509 3,318,022

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 28.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 44 periods.

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