TWTR threw under, but not as hard as expected. Could this be an inclining double bottom forming right here? If so, then perhaps the indices have a bit more of a rally in them than I thought because I just don't see how TWTR moves up if broader markets are supposed to turn down hard...
In any case, a break above the green line would be worth a speculative buy hoping that the shares will pop the 20% or so needed to fill the recent gaps and maybe even move up to the level of the prior 4th. I know there are a lot of short sellers in this stock right now. They are all likely waiting for the Dow to roll over in order to cover. But if the Dow just rallies for another week here, the short in TWTR will panic.
Of course, a subsequent break back down below the green will be the "sell this garbage stock" indicator.
No comments:
Post a Comment
Hi and welcome to my blog. Comments have been enabled for anyone with a google account.