Twitter, Inc. (NYSE:TWTR) Hovers Near Buy Point On Renewed Strength
Twitter hovers near a buy point and recently broke out on a stronger-than-expected quarterly earnings report.
Twitter has formed a very large and deep cup-with-handle base. That handle also qualifies as its own cup base, with a 41.02 proper buy point, according to IBD MarketSmith chart analysis. The 5% buy zone tops out at 43.07.
An eight-day dip before the breakout offered an alternative buy point at 39.07. But as a practical matter, 41.02 was the best entry because the stock gapped past 39.07, without giving investors a chance to buy that low.
On the stock market today, Twitter stock fell 2.6% to 40.46. Twitter held its initial public offering in 2013, pricing shares at 26.
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 37.92.
The projected upper bound is: 43.35.
The projected lower bound is: 37.78.
The projected closing price is: 40.56.
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.
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 55.5418. This is not an overbought or oversold reading. The last signal was a sell 8 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 53.63. 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 5 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 -24. This is not a topping or bottoming area. The last signal was a sell 6 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 1 period(s) ago.
Rex Takasugi – TD Profile
TWITTER INC closed down -1.050 at 40.480. Volume was 57% below average (consolidating) and Bollinger Bands were 43% wider than normal.
Open High Low Close Volume___
41.110 41.470 40.400 40.480 1,265,068
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 41.57 37.85 34.53
Volatility: 49 46 58
Volume: 3,441,664 2,838,965 3,558,252
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 is currently 17.2% above 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 26 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
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