Twitter failed to break through a long-term resistance at $55 and has just closed a daily candle that confirms a local top. With a confirmed local tops also confirms bearish divergence on the RSI. RSI is also crossing down it's 21 EMA and is about to leave the bull control zone. I suspect the price to come down towards the 21 EMA and previous resistance at $46. Overall sentiment is still bullish if price falters back to this price point as this would only be a higher low. However If this support fails, expect it to head towards the previous local low at $40 and then $34 if it continues to break support. Break past and close below $40 local low and the trend overall will switch over to being bearish as the trend will be broken.
Comment:
First target hit at $47 support.