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Twitter, Inc. (TWTR): Watch Out For Technical Signs

Twitter, Inc. (NYSE:TWTR) gained 2.82% in yesterday’s session, going up from its prior closing price of $17.75 to $18.25, and has now recorded rally in 6 consecutive sessions. It is uncommon for a stock to keep rising for so many consecutive days so a temporary pullback is likely. The stock price went upward in 7 of the last 10 days and has generated 3.81% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 3.89 million more shares exchanged hands compared with prior day. In total, 21.23 M shares exchanged hands for about $387.43 million.

Inside TWTR’s Recent Trend

Twitter, Inc. (TWTR) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -7.21% over the course of a quarter and, with 90% chance the price will be floating in the range of $13.77 and $17.88 in this timeframe.

Twitter, Inc. Technical Signals



TWTR has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $17.34 and $17.17. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Tuesday September 26, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.

Twitter, Inc. (NYSE:TWTR) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $16.84 and $16.75. In case of gains, the next resistance from accumulated volume will be at $19.25, $19.61 and $20.53.




It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Twitter Inc approaches the first support point just current price at $16.84. In case of a break, the next support we will see from accumulated volume is going to be at $16.75 and $16.09.

Twitter, Inc. (TWTR) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.55 (3.10%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.37%.

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