Twitter, Inc. (NYSE:TWTR) stock is gaining traction

Twitter, Inc. (NYSE:TWTR) stock is gaining traction

Twitter, Inc. (NYSE:TWTR) stock is gaining traction

Twitter (NYSE:TWTR) has been around for a dozen years at this point. In Silicon Valley years, that makes it an oldster on the tech front. But the micro-blogging site hasn’t seen the kind of meteoric rise that some of its contemporaries have seen. Its rise has been tempered with long bouts of doubt as other platforms have appeared on the scene and competition for the space has increased.

But the remarkable thing about TWTR, with its original 140 character limit, is that while it has tried to adapt and compete, the best thing that has happened to it (and TWTR stock) is that it has essentially stayed the same.

In an era when iteration takes everything from what it was to something barely recognizable, TWTR has made a few changes to its platform, but it is starting to be rewarded for allowing its followers to adapt the platform to their desires, rather than the company chasing customers’ desires.

And with Jack Dorsey back at the helm, this rational approach to the platform has also helped Twitter start to gain traction with advertisers as well.

To be sure, there are plenty of other social media platforms around and trying to remain relevant to younger audiences that tend to adopt anything new — for a time — as well as older audiences that have disposable income and more staying power is a very difficult fence to straddle.

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 32.12.

The projected upper bound is: 32.51.

The projected lower bound is: 24.85.

The projected closing price is: 28.68.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 21.4009. This is not an overbought or oversold reading. The last signal was a buy 0 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 39.43. 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 1 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 -92. 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 5 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed up 0.020 at 28.680. Volume was 15% above average (neutral) and Bollinger Bands were 69% wider than normal.

Open High Low Close Volume___
28.150 28.920 27.270 28.680 5,372,413

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

Moving Averages: 10-period 50-period 200-period
Close: 31.23 32.16 33.91
Volatility: 98 79 72
Volume: 5,612,916 4,919,246 5,305,674

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 15.4% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH