Twitter, Inc. (NYSE:TWTR) to enhance the social media platform

Twitter, Inc. (NYSE:TWTR)  to enhance the social media platform

Twitter, Inc. (NYSE:TWTR) to enhance the social media platform

Twitter, Inc. (TWTR – Free Report) recently announced that it has signed contracts with several media and entertainment companies to enhance the social media platform with “live-streaming and video highlights.” Some of the prominent names in the partnership include the likes of Sony Music, FOX Sports Asia and VICE.

Twitter expects to increase user engagement with the incorporation of video content. In a recent article, CNBC quoted Kay Madati, the global vice president of content partnerships of Twitter, who stated that by 2020 the company will have a billion views from Asia Pacific for the videos.

Notably, increasing engagement level will benefit the company’s advertisement revenues, which constitute the majority of its total revenues. In second-quarter 2018, revenues of $711 million increased 24% from the year-ago quarter and beat the consensus mark of $700 million.

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 34.73.

The projected upper bound is: 34.16.

The projected lower bound is: 24.73.

The projected closing price is: 29.45.

Candlesticks

A black body occurred (because prices closed lower 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 24 white candles and 26 black candles for a net of 2 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 16.5105. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 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 29.91. This is where it usually bottoms. 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 buy 26 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 -118.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 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 3 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed down -1.140 at 29.750. Volume was 11% below average (neutral) and Bollinger Bands were 23% narrower than normal.

Open High Low Close Volume___
30.580 30.800 29.250 29.750 4,954,546

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

Moving Averages: 10-period 50-period 200-period
Close: 32.62 36.68 32.27
Volatility: 49 79 68
Volume: 4,084,783 4,718,163 5,445,448

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 7.8% 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 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 0 periods. Our momentum oscillator is currently indicating that TWTR.N is currently in an oversold condition.

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