Twitter, Inc. (NYSE:TWTR) shares also rose above the psychological $35 level

Twitter, Inc. (NYSE:TWTR) shares also rose above the psychological $35 level

Twitter, Inc. (NYSE:TWTR) shares also rose above the psychological $35 level

Twitter was sharply higher midday as the stock moved above a key technical level.

Shares of Twitter (NYSE:TWTR) rose about 5.5% at 11:15 AM ET (16:15 GMT).

The stock moved above its 200-day moving average, entering territory it last held at the end of August.

Shares also rose above the psychological $35 level. Closing above that would be a significant bullish signal, according to traders.

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 32.69.

The projected upper bound is: 37.78.

The projected lower bound is: 31.36.

The projected closing price is: 34.57.

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 29 white candles and 21 black candles for a net of 8 white candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 3 rising windows in the last 50 candles–this makes the current rising window even more 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 69.0280. This is not an overbought or oversold reading. The last signal was a sell 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 59.50. 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 58 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 185.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 5 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 3 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed up 1.020 at 34.450. Volume was 7% above average (neutral) and Bollinger Bands were 56% narrower than normal.

Open High Low Close Volume___
34.130 35.750 33.900 34.450 4,756,918

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

Moving Averages: 10-period 50-period 200-period
Close: 32.80 31.40 34.03
Volatility: 57 67 68
Volume: 4,660,072 4,787,674 5,234,692

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
TWITTER INC is currently 1.2% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of TWTR.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on TWTR.N and have had this outlook for the last 7 periods.

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