📈 Twitter is down 20% from its recent highs, after it received criticism in media for its involvement in the recent Capitol Hill riots. I may also be receiving additional selling pressure as a knock on effect of the anti-trust elgilsating hitting other social media firms, namely Facebook. However, from a price action point of view, Twitter looks like a good set up. It is still trading in a bullish price channel formed from its March lows. It has recently completed a 0.619 Fib retracement, which is an area of confluence with the price channel support. There is also hidden bullish divergence with the recent swing highs and lows in the price diverging with the swing highs and lows in the RSI. Yet, though, there is no clear sign of price strength. It would be ideal to wait for a good green candlestick or a candlestick reversal pattern.
🔎This is not financial advice. Always do your own research and due diligence.
🔎This is not financial advice. Always do your own research and due diligence.
Trade closed: target reached:
TP reached on this on Friday!