American Stocks Analysis

Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.

Twitter rises through negative pressures - Analysis - 23-10-2018

Economies.com
2018-10-23 13:59PM UTC

Twitter's stock steadied below the resistance of 31.02, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 14.25 to 47.79), with the stock scoring a profit of 1.21%, or 0.35 points, amid negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock's movements. 

 

Therefore we expect the stock to return lower, targeting the next support at 27.06, which represents the ratio 50% of the same retracement levels, as long as the resistance of 31.02 holds on. 

 

Expected trend for today: Bearish 

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