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Twitter Daily Technical Analysis | 7 November 2017

2017-11-07 09:16 am | Resource: Technical Analysis Section | No Views : 319

With Twitter approaching the 22.29 level, the stock started to fall as low as 20.84, as buyers were weak and bear pressure on the US stock.

Twitter Daily Technical Analysis | 7 November 2017

The SMA and Slow Moving Average are both negative but not yet confirmed.
From the chart above the 240-minute interval we note that a negative fractal has broken the stock's starting point during the first week of this month.
Rate of Change 12 Breaks the trend line and is currently trading below zero indicating that sellers are controlling the social networking stock.
It is expected that as long as the social networking share is trading below $ 20.96, it might target the 17.18 level on the other side. In case of a breach of 20.23, it might target 21.22.
Support: 22.29- 20.84- 19.78
Resistance: 24.06- 26.02- 24.06
Trend: Down

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