reather bearish for me this whole picture. I am rexpecting price to test levels arround 40 in the next 2-3 months.
Description in the graph.
Detailed analysis on chart-- credit to DanV for the perspective
Analysis on chart.. keep in mind they are monthly/weekly time frames
Twitter Inc (NYSE:TWTR) is consolidating in a bull flag pattern. This should lead to upside. The target is $44.80. Twitter ripped big time after reporting earnings last week. It has since pulled back, hitting the gap window at the lows today. This has solid potential. Note the Twitter Inc chart... Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
Interesting 60 min look here for the IBB.. after a several month run up (which looks like to be in itself a larger frame corrective B wave to a multi-year run up), price completed a beautiful proportionate AB=CD. However in order for this bounce to prove it's the next impulsive leg up instead of being a countertrend to the larger frame C downward continuation, it...
I drew a trend line from the point the price bottomed - this is when JMA (Jurik Moving Average) reversed into an uptrend, to the current Bollinger Band basis. It gives us a nice 9-10% bull run into earnings.
60 min bear flag while weekly momentum is spilling over from higher time frame double top.. sure to tug daily along with it. 50MA sloping down with BC 1.62 projection coinciding with prior swing low for the most logical first target after flag break
Daily double top/reversal candle forming, 60 min subdivides into anticipated C wave.. obviously want to wait until momentum shift for confirmation
Dropped on my radar by Klang, diving into 60 min subdivisions... potentially ending ABC correction, 60 min sub-divides into nice 5WC, APP's + 50% fib over prior trend shown