Twitter, Inc. (NYSE:TWTR) shares plunged the most in four years
Twitter shares plunged the most in four years after the firm said in July that monthly users had dropped by 1 million in the second quarter and predicted further declines as it fights against spam, fake accounts and malicious rhetoric.
Twitter Inc. just seized a title no company wants: the worst performer in the S&P 500 Index. Shares of the social-media giant dropped about 35 percent in third-quarter trading, which ended Friday — worse than every other company in the index. Twitter’s tough quarter was set off by a disappointing earnings report.
The stock plunged the most in four years after the firm said in July that monthly users had dropped by 1 million in the second quarter and predicted further declines as it fights against spam, fake accounts and malicious rhetoric. Shares sunk further earlier this month after an analyst at MoffettNathanson flagged “ smoke and mirrors” in the company’s expense reporting.
The worst quarterly performers in the S&P 500 after Twitter are IPG Photonics Corp. with a 29 percent drop and Western Digital Corp. with a 24 percent decline.
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 33.03.
The projected upper bound is: 32.52.
The projected lower bound is: 23.50.
The projected closing price is: 28.01.
A black body occurred (because prices closed lower 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 24 white candles and 26 black candles for a net of 2 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 42.5414. This is not an overbought or oversold reading. The last signal was a buy 12 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 33.78. 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 9 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 -127.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 4 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 buy 3 period(s) ago.
Rex Takasugi – TD Profile
TWITTER INC closed down -0.150 at 28.310. Volume was 24% below average (neutral) and Bollinger Bands were 41% narrower than normal.
Open High Low Close Volume___
28.550 28.700 28.000 28.310 4,381,236
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 29.00 32.75 32.79
Volatility: 39 79 68
Volume: 4,415,211 4,615,646 5,488,070
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 13.7% 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 5 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.
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