$TWTR Twitter, Weekly Chart Nov 2019
Now to $TWTR Twitter, Weekly Chart.
I’ve chosen to analyze $TWTR and trust me, this is not my first time analyzing this stock.
One of the most stupid things on the market is that when a company does a slightly worse quarter than it supposed to have done and then the stock dips like a market in financial crisis. Does this make sense in technical analysis? No. Does this make sense in the fundamental analysis? No.
2 quarters before the most recent one was +500% and +1600% surprise on EPS. The latest one is negative for 40%. Still, the stock’s price shrank.
Twitter is in a good position to buy for now. Usually, huge dips will recover over time and Twitter’s stock has shown the support already at 29.00$ (4-hour chart, picture of it below
One of the things that suggest us to buy TWTR is that the RSI9 is on 20-levels. It does mean that the stock is oversold. I have personally bought the stock at 29.05 with leverage of 3x and I’m planning to sell the stocks when the stock’s price level is around 34.00$. (17% upside without leverage)
Remember to read the Technical Analysis of the US indexes