UPDATE: Possible setup here for the 32-37 price range. The projection for the potential bearish flag pattern is 32-37. EW 1.618x and 1:1 projections imply an eventual target at 28-29, i.e., near the IPO price.
Bearish Gartley would be tweeted :) from 45.20
TWTR Price action Support/Resistance Buy/Sell
Here is what I look for when scanning for short term reversal patterns. Using Twitter as an example
Short Twitter. People saw the missleading headline ... TWTR up 74%. The crowd called there broker and sent the buy TWTR orders for first thing tomorrow morning.
I do not see how this could continue above $44.00 much longer. I expect to see this drop to $30 and leave a ton of people holding their bags. Way too risky for me! I hope I am wrong.
Banksters couldn't keep the IPO above the yellow line. EW shows possible DB at today's low if truncated..but 44 area seems more possible But as always...time will show. BM Music at work: www.youtube.com