Twitter, Inc. (NYSE:TWTR) Metastock Technical Forecast
Twitter is an American microblogging and social networking service on which users post and interact with messages known as “tweets”. Registered users can post, like, and retweet tweets, but unregistered users can only read them. Users access Twitter through its website interface, through Short Message Service (SMS) or its mobile-device application software (“app”).
Twitter, Inc. is based in San Francisco, California, and has more than 25 offices around the world. Tweets were originally restricted to 140 characters, but was doubled to 280 for non-Asian languages in November 2017.
Twitter was created in March 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams, launched in July of that year. The service rapidly gained worldwide popularity. In 2012, more than 100 million users posted 340 million tweets a day, and the service handled an average of 1.6 billion search queries per day. In 2013, it was one of the ten most-visited websites and has been described as “the SMS of the Internet”. As of 2018, Twitter had more than 321 million monthly active users.
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Bollinger Bands By MetaStock
On 31/03/2020, TWITTER INC closed above the lower band by 31.0%.
Bollinger Bands are 160.41% wider than normal. The large width of the bands suggest high volatility as compared to TWITTER INC’s normal range. Therefore, the probability of volatility decreasing and prices entering (or remaining in) a trading range has increased for the near-term. The bands have been in this wide range for 15 period(s). The probability of prices consolidating into a less volatile trading range increases the longer the bands remain in this wide range.
The recent price action around the bands compared to the action of the Relative Strength Index (RSI) does not suggest any trading opportunities at this time.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with TWITTER INC), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.
Directional Movement By MetaStock
Change -1.0300 (-4.03%)
Volume Today: 472,993,984 shares.
Directional Indicator Table
Today’s Value Previous Value
+DI 15.000 14.000 -DI 28.000 30.000 ADX 36.000 36.000 ADXR 30.000 29.000
The last signal was a Buy 72 period(s) ago.
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