Twitter, Inc. (NYSE:TWTR) Reports Bug

Twitter, Inc. (NYSE:TWTR) Reports Bug

Twitter, Inc. (NYSE:TWTR) Reports Bug

Twitter (TWTR – Free Report) recently announced that the company found a bug, the second time this year, which may have exposed customers’ direct messages and personal tweets to unauthorized developers.

Notably, in May this year, the company advised users to change their passwords after Twitter found a bug that was storing users’ passwords in an unencrypted format.

Shares of Twitter gained 18.7%, underperforming the industry’s rise of 21.7% after the company announced the news.

Twitter in its statement revealed that less than 1% of the people were affected. With 335 million monthly average users (MAUs) in second-quarter 2018, at least 3.4 million must have been affected.

Moreover, Twitter came under further scrutiny by Brazil’s top electoral court after 16 users openly celebrated the “near-fatal assassination attempt on presidential candidate Jair Bolsonaro.”

Reportedly, Twitter will be fined $12,345 for the company’s delay to hand over the data of the 16 users, per TechCrunch.

Overall, the bias in prices is: Downwards.

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

By the way, prices are vulnerable to a correction towards 33.29.

The projected upper bound is: 33.34.

The projected lower bound is: 24.28.

The projected closing price is: 28.81.

Candlesticks

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 25 white candles and 25 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 33.0435. This is not an overbought or oversold reading. The last signal was a buy 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 35.90. 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 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 -80. This is not a topping or bottoming area. The last signal was a buy 0 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 sell 12 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed up 0.510 at 29.110. Volume was 35% below average (neutral) and Bollinger Bands were 3% narrower than normal.

Open High Low Close Volume___
28.750 29.240 28.440 29.110 3,734,615

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 29.39 33.94 32.65
Volatility: 48 79 68
Volume: 4,571,724 4,587,153 5,485,678

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 10.8% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of TWTR.N (mildly bearish). Our trend forecasting oscillators are currently bearish on TWTR.N and have had this outlook for the last 1 periods.

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