Twitter, Inc. (NYSE:TWTR) short sellers double down
Two Jack Dorsey companies, alike in their huge stock rallies, differ when it comes to recent short-selling sentiment.
That’s according to a recent analysis from financial technology and analytics firm S3 Partners, which looked at short-interest trends for Square Inc. SQ, +2.47% and Twitter Inc. TWTR, +2.63% Square shares have gained 95% so far this year, while Twitter’s stock is up 92%. The S&P 500 SPX, +0.17% is up just 3.5%.
Twitter short sellers are selling into the stock’s rally and increasing their short exposure substantially in June.
Twitter, short interest has increased considerably in just a few weeks. It rose from $1.4 billion at the end of May to $2.1 billion Wednesday. At the beginning of 2018, Twitter short interest was below $1 billion.
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 38.34.
The projected upper bound is: 49.21.
The projected lower bound is: 43.71.
The projected closing price is: 46.46.
A white body occurred (because prices closed higher 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 29 white candles and 21 black candles for a net of 8 white 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 54.6830. This is not an overbought or oversold reading. The last signal was a sell 1 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 78.55. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 72 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 88. This is not a topping or bottoming area. The last signal was a sell 1 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 33 period(s) ago.
Rex Takasugi – TD Profile
TWITTER INC closed up 1.180 at 46.130. Volume was 11% below average (neutral) and Bollinger Bands were 115% wider than normal.
Open High Low Close Volume___
45.540 46.910 45.470 46.130 5,249,863
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 43.95 34.71 26.73
Volatility: 52 50 62
Volume: 7,077,890 6,382,653 5,102,127
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 72.6% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect very strong flows of volume into TWTR.N (bullish). Our trend forecasting oscillators are currently bullish on TWTR.N and have had this outlook for the last 34 periods. Our momentum oscillator is currently indicating that TWTR.N is currently in an overbought condition.